The number of oil drilling rigs worldwide fell by 164 units year-on-year (YoY) in October to 1,800, marking a monthly decrease of 12 rigs compared to the previous month, data from the oilfield services company Baker Hughes showed.

 

The Middle East rig count declined by 6 units to 505 in October compared with the previous month.

 

Meanwhile, the number of oil and gas rigs worldwide – excluding the US and Canada – dropped by 25 units to 1,059 in October, down by 101 YoY.

 

Change in Oil and Gas Rig Count

Region

A Year Ago

Previous Month

Current Month

MoM Change

YoY

Change

Middle East

552

511

505

(6)

(47)

Global (excl. North America)

1160

1084

1059

(25)

(101)

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