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Global Rig Count Hit 1,777 in Oct: Baker Hughes

OIL

Oil and gas rig counts globally rose to 1,777 in October, up 17 on the month, according to Baker Hughes.

  • US rigs fell by 9 to 623 in October, while the Middle East saw the largest monthly gain in rigs, up 10 to 337.
  • Global rig count is down by 116 year-on-year, driven by a 145 year on year fall in the USA.
  • The USA, Canada, and Latin America all saw falling rig counts year on year, while numbers increased in Europe, Africa, APAC, and the Middle East.

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