423 rigs active in OPEC countries now, only 46% of U.S. activity
OPEC may have cut production but drilling activity has not followed along, according to an analysis of the Baker Hughes International Rig Count.

Baker Hughes reports a total of 423 rigs active in OPEC countries in October, just under half the number of U.S. rigs active in the month. The OPEC count rose by one in October, as increased activity in Saudi Arabia outweighed dropping rig counts in most countries.

OPEC drilling activity fell during the oil price crash, but was not...

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