World Rig Count

The total number of rigs drilling for the oil worldwide* has fallen to the multi-year low of 1700 in the April, -38% since the end of 2014. However the decline in drilling activity is not the same among the countries and producing regions. While the US and other developed countries are reducing the drilling, the number of rigs in the OPEC member states stays elevated.

Despite the oil prices decline, Saudi Arabia is constantly increasing the number of active rigs: to the 157 in the April 2015, +44% compared to the start of 2013. The world rig counts show quite clear, who is really benefiting from the current energy market environment, causing the glut with excess supply and keeping the prices at a low levels at the same time. Saudi Arabia has already increased its share in the world drilling two times: from the 3.1.-3.3% as of 2013 to the 6.8% for now. A similar patterns can be observed in the data for Kuwait.

Source: World Rig Count, Monthly OPEC Estimates, May 2015

* the world totals exclude China and the Former Soviet Union countries

See also: