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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ENERGY
Baker Hughes monthly data released today shows a decrease in global oil and gas rig count in April led by another big fall in Canada.
- Total global rig counts fell by -71 from March with a decrease of -87 in Canada, -1 in the US and an increase of +14 in the Middle East. The Canada rig count has fallen to the lowest since May 2022 and was well below the 2022 average of 176. The count has pulled back from a the highest since Feb 2020 seen in February 2023.
- Total world oil and gas rig count has fallen back from a peak of 1921 in Feb 2023 to 1808 but is still well above the low of 1016 from Oct 2020.
Source: Baker Hughes
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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