Released Friday, the report showed the number of active rigs at the end of April globally was 1,514, compared to 2,140 at the same point last year.The number of active rigs in the US dropped even more severely, falling 44% compared to April last year.
There were 566 rigs active in the US in April, compared to 1012 at the same time last year, and 772 at the end of March, a fall of 27%.down in recent weeks, meaning fewer rigs operate as drilling is less profitable. Lower rig counts usually spook traders, as it tends to signal problems with demand for oil.
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ReutersVzla this is going to have a huge impact on Venezuelans and their informal sector as more migrants return. With the fail of the Petro and complete lack of fiscal stimulus and demand, the economy is shattered. Venezuela