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FX.co ★ Global oil and gas rig count fall by 3.4% in April

Global oil and gas rig count fall by 3.4% in April

Global oil and gas rig count fall by 3.4% in April

According to estimates of US-based oilfield services company Baker Hughes, the number of active oil and gas drilling rigs around the globe decreased by 68 units, or 3.4%, to 1,917 units.

On a yearly basis, worldwide oil and gas rigs count during April 2016 to April 2017 was up 493 units, or 34.6%.

The US drilling rig count added 64 units, or 8.11%, coming in at 853 units. The rig count for Canada fell by 145 units, or 57.3%, to 108 units in April 2017. In the Middle East, the number of drilling rigs for the month increased by 3 units, or 0.77%, reaching 389 units. In the Asia-Pacific region, drilling rigs increased by 7 units, or 3.53%, to 205 units, in Africa it was up by 9 units, or 11.25%, to 89 units.

Latin America rig count lost 3 units to average 182, up 1.62%. Europe declined by 3 units, or 3.19%, to 91 from March.

Baker Hughes reveals information on the global rig count every fifth working day of the month.

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