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Global Oil and Gas Rig Count Falls in April


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

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