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The Number Of Oil And Gas Installations In The World Fell To A Record Low In July

The Number Of Oil And Gas Installations In The World Fell To A Record Low In July

The number of active oil and gas rigs in the world fell to a record low in July, according to the data from the American oilfield services company Baker Hughes.

On average, 1,030 installations were operating in the world last month, compared to 1,073 in June. At the same time, the July level is 1208 less than the indicator for the same month, last year.

In the US, the number of installations in July decreased by 19 compared to the previous month – to 255. That is an all-time low.

In the Middle East, the number of drilling rigs fell by 28 – to 315 (at least since April 2012), in the Asia-Pacific region – by 4, to 193, in Africa – by 4, to 56 (the lowest level since June 2009), in Europe – by 5, to 105 (at least since April last year).

Meanwhile, in Canada, the indicator increased by 14 – to 32 drilling rigs, in Latin America-by 3, to 74.

Baker Hughes has published data on active rigs since 1944. At first, the company collected information only in the United States and Canada, and since 1975, it has collected information all over the world. Since June 7, 2019, the company has included in its calculations the number of drilling rigs in Ukraine, while the recalculation of summary data for Europe for previous periods was not carried out in this regard.

The average monthly number of operating oil and gas rigs in the world in 2019 declined after rising for two consecutive years to 2,177. According to the results of 2016, the minimum figure for 17 years was recorded – 1,593 drilling rigs. In 2014, the maximum number of installations in the world since 1985 was 3,578.