The latest rig count data reflects mixed trends in drilling activity across North America and globally:
U.S. Rig Count: Steady at 589 rigs, showing no weekly change but a decline of 34 rigs compared to last year.
Canada Rig Count: A decrease of 3 rigs this week, leaving the count at 191, marking a yearly increase of 6 rigs.
International Rig Count: There are down by 31 rigs this month, now at 919 rigs—a yearly drop of 59 rigs.
Key Takeaways
U.S. Stability: The unchanged U.S. rig count suggests consistent activity despite fluctuating oil prices and policy uncertainties.
Canada’s Variability: A weekly dip may reflect seasonal shifts, though the annual increase highlights ongoing exploration and development.
Global Challenges: The decline in international rigs signals persistent challenges in global energy markets, potentially influenced by economic headwinds and geopolitical factors.
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