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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
The monthly data from Baker Hughes shows the international rig count, excluding US and Canada, fell by 12 in September to 940. The global oil and gas rig counts including US and Canada fell by 28 in the month driven by a -15 decrease from US.
- The international onshore tally declined by just one after seeing a steady decline from a peak in June when the total land and offshore count reached 967.
- The offshore count fell by 9 in Sept to reverse gains seen in the last couple of months with a decline seen in all regions except Latin America and Asia Pacific. The offshore count of 224 is well above the 2020 low of 154 but is nearly 13% below the pre-pandemic peak of 257.
- The latest Baker Hughes weekly US rig count data is due for release later today at 13:00ET. The US oil rig count fell again last week to 502 after stabilising in early September while the gas rig count also fell to 116.
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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