Average US rig count drops again in April
Published: Monday, 09 May 2016
US rig count declined once again in April according to the latest figures released by Baker Hughes. A good indication of oilfield activity and resultant oilfield mineral demand, the declining rig count adds another layer of uncertainty to the market after industry participants hoped that the recent strengthening of oil and gas prices might indicate a market revival.
Baker Hughes reported the worldwide rig count for April 2016
at 1,424, down by 127 from 1,551 in March and down 844 from
2,268 counted in April 2015.US rig count for the last month was
down 41 sequentially at 437 and down 549 year-on-year (y-o-y)
from 975 in April 2015.Canadian rig count...