World Rig Counts Declining » Peak Oil Barrel. The weekly. In the charts below the monthly data is through February 2. March 6th. World Rig Count, counting oil, gas and miscellaneous rigs are down 6. The annual spikes you here are caused by Canada. Removing the seasonal Canadian spikes gives you a better picture of what is happening to the world rig count. This is the first time since before 2.
Canadian rig count did not peak in February. The International Oil Rig Count is down only 6. The US total rig count stood at 1. December and has dropped 7. From that same date oil rigs have dropped 4. Energy and the Human Journey: Where We Have Been; Where We Can Go. Version 1.2, published May 2015. Version 1.0 published September 2014. Note to Readers: This essay is more easily navigated with a browser. Saudi oil rig count jumped by 9 to 7. February while the gas rig count fell by 8 to 4. The Iraqi rig count has dropped by 4. ISIS likely had a hand in this. However I really don’t understand what is going on here with this Baker Hughes rig count. I know Iraq had rigs working well before May of 2. Baker Hughes says the count was zero. The Kuwaiti rig count has tripled since 2. In this life nothing is certain. Therefore I am not declaring, absolutely, that we are at peak oil, only that it is a near certainty. But I am putting my reputation on the line in making the claim that the period, September.They have been working hard to increase their oil production. They appear to have peaked however. The United Arab Emirates have almost tripled their oil rig count since 2. They, like Kuwait, have increased their production considerably in the last few years but not they seem to have peaked. Mexico is an interesting case. In the last two years their oil rig count has dropped from 1. September. The Brazil oil rig count has dropped from 9. June of 2. 01. 2 to 4. February of 1. 5. There was another huge drop in the North America Weekly Rig Counts. Texas dropped 3. 2 rigs this past week. The Permian had the biggest drop, 2. Eagle Ford dropped 8. News Items: While reading Google News articles on oil production this morning I came across the following passage from an article about falling oil production in Qatar. This . That is what every major oil producer in the world is doing. Heavy investment in mature fields produces no new found oil, it produces old found oil a lot faster. Limiting declines now increases declines later. And from the category of “I’m not one to say I told you so. One of the biggest oil producers in Russia said its revenues were hit by the plunge in oil prices, The Wall Street Journal reported. The decrease in oil prices combined with the rise in inflation and weak ruble worsened by economic sanctions lowered the company’s net profit by 4. Fedun said oil output could decrease by 8. Reuters reported.“Everyone will reduce production because everyone is reducing drilling,” Fedun said, according to Reuters.
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