Global oil rig count drops in 2024: Baker Hughes
06/01/2025
Argaam
Oil drilling rigs
The global oil rig count fell by 79 year-on-year (YoY), reaching 1,660 rigs in December 2024, according to data from Baker Hughes. This marks a decline of 49 rigs compared to the previous month.
The report also highlighted a decrease in the Middle East, where the rig count dropped by 4 to 332 in December, both on a monthly and annual basis.
Furthermore, the number of oil and gas rigs worldwide, excluding the US and Canada, declined by 10 rigs to 909 in December.
|
Oil & Gas Rigs |
|||||
|
Region |
A year earlier |
Dec. 2024 |
Jan. 2025 |
MoM Change |
YoY Change |
|
Middle East |
336 |
336 |
332 |
(4) |
(4) |
|
Total (excluding North America) |
955 |
919 |
909 |
(10) |
(46) |
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