Global Oil Rig Counts Hit 956 in April

oil-rig
  • Global Oil Rig Counts Hit 956 in April

There are strong indications that oil exploration and production have increased in different parts of the world as the global rig counts hit 956 in April 2017, showing an increase of 13 against 943 recorded in March, this year.

Baker Hughes report released over the weekend also showed that the international offshore rig counts for April 2017 was 201, up four from the 197 counted in March 2017, but still down by 19 units against the 220 counted in April 2016.

“Baker Hughes Incorporated announced today that the international rig count for April 2017 was 956, up 13 from the 943 counted in March 2017, and up 10 from the 946 counted in April 2016. The international offshore rig count for April 2017 was 201, up 4 from the 197 counted in March 2017, and down 19 from the 220 counted in April 2016.

“The average U.S. rig count for April 2017 was 853, up 64 from the 789 counted in March 2017, and up 416 from the 437 counted in April 2016. The average Canadian rig count for April 2017 was 108, down 145 from the 253 counted in March 2017, and up 67 from the 41 counted in April 2016.”

“The worldwide rig count for April 2017 was 1,917, down 68 from the 1,985 counted in March 2017, and up 493 from the 1,424 counted in April 2016,” it added. According to the report, the ‘Rig Counts’ are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

Be the first to comment on "Global Oil Rig Counts Hit 956 in April"

Leave a comment

Your email address will not be published.


*