Only 174 rigs drilling in Latin America
International drilling activity fell last month, according to the latest edition of Baker Hughes International Rig Count.

A net 11 rigs shut down in the past month, the largest drop in eight months, leaving 967 rigs active internationally. This is the lowest level since January, but still exceeds that of mid 2016 through 2017.

The drop in international activity was primarily driven by Latin America, where 15 rigs shut down. Unsurprisingly, most of the regional decrease was seen in Venezuela. Eight ...


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