The Number of Oil and Gas Rigs Worldwide Declined in May Due to North America
The Number of Active Oil and Gas Rigs Worldwide Decreased by 40 in May Compared to the Previous Month, Mainly Due to North America, According to U.S. Oilfield Services Company Baker Hughes.
On average, 1,576 rigs were operating worldwide, compared to 1,616 in April. The May level was also 99 rigs below the figure for the same month in 2024.
In the United States, the number of rigs last month decreased by 13 compared to April (to 573), and in Canada, by 22 (to 116).
The number of rigs in Europe fell by three (to 123), in Africa by three (to 94), and in the Middle East by eight (to 327). Meanwhile, the number of rigs in Latin America increased by six (to 136), and in the Asia-Pacific region by three (to 206).
Baker Hughes has published data on active rigs since 1944. Initially, the company collected information only in the U.S. and Canada, and since 1975, worldwide.
The average monthly number of active oil and gas rigs worldwide in 2024 decreased after three consecutive years of growth, amounting to 1,734 compared to 1,812 the previous year.
The historical maximum number of operating rigs was recorded in 1981 at 5,624, while the minimum number was recorded in 2020 at 1,352 rigs.
