Oil Rig Count Falls According To Baker Hughes

According to a Baker Hughes press release On January 9, 2017 -- The international rig count for December 2016 was 929, up 4 from the 925 counted in November 2016, and down 166 from the 1,095 counted in December 2015. The international offshore rig count for December 2016 was 210, down 1 from the 211 counted in November 2016, and down 40 from the 250 counted in December 2015. The average U.S. rig count for December 2016 was 634, up 54 from the 580 counted in November 2016, and down 80 from the 714 counted in December 2015. The average Canadian rig count for December 2016 was 209, up 26 from the 173 counted in November 2016, and up 49 from the 160 counted in December 2015.

The worldwide rig count for December 2016 was 1,772, up 94 from the 1,678 counted in November 2016, and down 197 from the 1,969 counted in December 2015. As of Friday January 13, 2017 Baker Hughes reported that the oil rig count fell by seven to 522, the first decline following 11 weeks of gains. The rig count overall which includes one additional natural gas rig dropped by 6 to 659. To get more in depth information on the oil rig count falling click on the pictures below to read the articles.