Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The number of oil and gas drilling rigs in the world in August fell for the first time in 3 months


September, 01 2023
watermark Economic news

According to the oilfield services company Baker Hughes, in August 2023, the number of operating oil and gas drilling rigs in the world decreased for the first time in three months.


On average, 1,788 installations were operating in the world last month, in July this figure was at the level of 1,820 units. At the same time, the August level is 37 units lower than the indicator for the same month of 2022.


In the US, the number of installations decreased by 26 compared to July and amounted to 647, which is the lowest since February 2022. In Canada, the number of installations increased by 3, reaching 189 units. Thus, in August, North America accounted for 46.8% of working drilling rigs, which is slightly lower than in July (47.2%) and significantly lower compared to last year (52.9%).


In Europe, the number of drilling rigs decreased by 3 – to 121, in Latin America – by 4, to 173, in the Asia-Pacific region – by 4, to 220, and in the Middle East – by 5, to 329 units.


In Africa, the indicator increased by 7 and reached the number of 109 installations, which is the highest since February 2020.


Baker Hughes has been collecting data on operating drilling rigs since 1944. The historical maximum was recorded in 1981 – 5,624 installations, and the minimum – in 2020, when there were only 1,352.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.