Global oil rig count rises in January, driven by surge in Canada

The number of active oil and gas rigs worldwide rose in January, primarily due to a significant increase in Canada, according to data from American oilfield services company Baker Hughes.

Thus, the global rig count averaged 1,696 in January, compared to 1,660 in December, Caliber.Az reports via foreign media. However, the figure was 87 rigs lower than in the same month of 2024.

In the United States, the number of rigs dropped by seven to 582 in January. In contrast, Canada saw an increase of 46 rigs, bringing the total to 208.

The rig count in Latin America declined by five to 132, while the Asia-Pacific region saw a decrease of twelve rigs, bringing the total to 206. Africa experienced a drop of one rig, leaving it with 101 active units. Meanwhile, the Middle East saw an increase of fourteen rigs, bringing the total to 346, while Europe’s rig count remained unchanged at 120.

Baker Hughes has been publishing data on active drilling rigs since 1944, initially tracking only the US and Canada. Since 1975, the company has expanded its coverage to include the entire globe.

The historical maximum for the number of operating drilling rigs was recorded in 1981-5,624. The minimum was recorded in 2020 -, 352 rigs.

By Aghakazim Guliyev