The Baker Hughes International Rig Count is out. I have decided to try something new with the charts. That is to compare the current year’s rig count with the previous two years count and to insert, within the charts, the percent change for this year as compared to last year. Also, this is the total rig count, Oil and Gas. Also the charts are not zero based. I do this in order to better emphasize the monthly change.
July usually sees a big jump in rig counts. This year there was a very tiny July increase, only a fraction of the increase we usually see for July.
*The Total International rig counts does not include the USA, Canada or the FSU. The Total International rig count was down 28 in July to 1118. Last July it was up3 to 1344.
