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Oil Rigs Down Almost Universally

Oil Rigs Down Almost Universally

All rig count data is provided by Baker Hughes. All monthly charts are oil rigs only. Gas rigs are not included in the count. The last data point for all monthly charts is April 2015.

When I talk about “peaks” in this post I am only speaking of the peak since 2011 and am not suggesting that there were not higher peaks in previous years.

(Click all charts for larger version)

InternationalRigCount

The International Rig Count has fallen by 150 rigs, from 1,080 in July 2014 to 930 in April 2015. This count does not include the USA, Canada or any of the FSU countries.

EuropeanRigCount

The European Oil Rig Count dropped from 96 in October and November to 65 in April.

AfricanRigCount

The African Rig count peaked at 123 in February and dropped to 88 in April.

…click on the above link to read the rest of the article…

 

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