Rig count declines further in 2016 after rough year for the oilfield sector

By Kasia Patel
Published: Monday, 08 February 2016

The oil and gas market looks set to worsen before it gets better, as rig counts into the new year declined again. With mineral suppliers to the industry already reporting losses, 2016 could be punctuated by further capacity curtailments and consolidation.

The worldwide rig count for January 2016 fell to 1,891, down 78 from 1,968 in December 2015, according to the latest figures from Baker Hughes.

While the year-on-year (y-o-y) global rig count decline has been well documented – the January figures represent a fall of 1,418 from January...

This is a preview of the full article

Our market news and price data is reserved for registered users only.

Current customer? Login now

All of our industrial minerals price data and news is now available only through our new platform. Learn more about the intelligence we offer by visiting our Fastmarkets flagship website. If you are familiar with our reliable and trusted intelligence, fill out a request a quote form today to hear from our friendly sales staff who will create a custom license for you.


           



Interested in lithium prices? We now offer lithium prices and coverage free for reference. Click here to read all about it.

Interested in the wider electrification market?
Join our growing community of participants who want to learn more about electrification and how this market is developing.