International Rig Count Still Falling
The rig count data in all charts below is through February 2016.
The Baker Hughes International Rig Count does not include the US, Canada, any of the FSU countries or inland China. It does include offshore China. That rig count peaked in July 2014 at 1,382 rigs and in February stood at 1,018, down 364 rigs from the peak.
The Baker Hughes total world rig count does include US and Canada but not the FSU or inland China. That total oil & gas rig count stood at 1761 in February, down 52% since December of 2014.
The US monthly total rig count stood at 532 in February, down 72% from November 2014.
The Canadian total rig count usually peaks in February. It did not in 2015 but stood at 211 this February which will likely be the peak for 2016. That count is down from 626 rigs in February 2014, down over 66%. That was the last pre-price crash February peak.
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