The number of active oil and gas drilling rigs in the world is declining

The number of active oil and gas drilling rigs in the world fell for the third month in May. The American oil services company Baker Hughes reported this on Friday, June 7.

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On average, 1,675 installations operated worldwide last month compared to 1,726 in April. Moreover, this level is 107 lower than the number for the same month in 2023.

In the United States, the number of installations in May decreased by 15 compared to the previous month and reached 602. In Canada, their number decreased by 11 to 120.

The number of drilling rigs in the Middle East over the past month decreased by 2 (up to 341), in Africa – by 6 (up to 106), in Asia-Pacific – by 11 (up to 226), in Latin America – by 9 (at 157). At the same time, in Europe their number increased by 3 (up to 123).

Baker Hughes has been publishing data on active drilling rigs since 1944. Initially, the company collected information only in the USA and Canada, since 1975 – worldwide.

The historical maximum in the number of operating drilling rigs was noted in 1981 – 5,624 rigs. The lowest number was recorded in 2020 and reached 1,352 installations.

We remind you that on June 3, oil prices fell sharply and reached a four-month low. According to some market analysts, the OPEC+ decision has a negative impact on prices.