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)
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)
