The number of oil rigs operating on land and offshore has dropped between October and November.
GE subsidiary, Baker Hughes, announced today that the total rig count was down from 2,077 to 2,057 worldwide from October to November 2017.
While rig count in the Middle East has seen a drop of seven rigs, North America saw a loss on nine over the last month.
Europe saw a drop of six developments over that period, while Canada was unchanged from October to November and has actually witnessed a rise of 31 from the same period last year.
Baker Hughes report that its rig count is based on ‘the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets’.
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