The average number of oil rigs worldwide decreased between 1975 and 2022. In the latter year, figures averaged 1,814 units. This was an increase compared with the last three years, when the coronavirus pandemic brought about an oil crisis due to falling oil demand. The peak number was recorded during the oil boom in 1981, at 5,624 units. North America is the region with the greatest number of oil and gas rigs, the vast majority of which are on land.
Marketed supply of offshore rigs
The total number of global offshore oil rigs was 692 in January 2024, of which nearly 557 were marketed and contracted. Offshore oil rigs or platforms enable producers to extract and process oil and natural gas through drilled wells. They may be used in both lakes and oceans and are either anchored directly onto the seabed by concrete or steel legs, or by tension-leg platforms that float but are tethered to the seabed.
Global oil production
Global oil production reached 93.8 million barrels per day in 2022. This was up from 90 million barrels the year before, which showcased one of the highest annual growth rates in the last two decades. Exploration and production activity was largely impacted by supply issues following sanctions on Russian imports, which incentivized other producers to increase their output and benefit from decade-high oil prices. Oil production figures include crude oil, shale oil, oil sands, and natural gas liquids.
Average annual number of operative oil rigs worldwide from 1975 to 2023
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Baker Hughes. (February 2, 2024). Average annual number of operative oil rigs worldwide from 1975 to 2023 [Graph]. In Statista. Retrieved November 26, 2024, from https://www.statista.com/statistics/463369/number-of-global-oil-rigs/
Baker Hughes. "Average annual number of operative oil rigs worldwide from 1975 to 2023." Chart. February 2, 2024. Statista. Accessed November 26, 2024. https://www.statista.com/statistics/463369/number-of-global-oil-rigs/
Baker Hughes. (2024). Average annual number of operative oil rigs worldwide from 1975 to 2023. Statista. Statista Inc.. Accessed: November 26, 2024. https://www.statista.com/statistics/463369/number-of-global-oil-rigs/
Baker Hughes. "Average Annual Number of Operative Oil Rigs Worldwide from 1975 to 2023." Statista, Statista Inc., 2 Feb 2024, https://www.statista.com/statistics/463369/number-of-global-oil-rigs/
Baker Hughes, Average annual number of operative oil rigs worldwide from 1975 to 2023 Statista, https://www.statista.com/statistics/463369/number-of-global-oil-rigs/ (last visited November 26, 2024)
Average annual number of operative oil rigs worldwide from 1975 to 2023 [Graph], Baker Hughes, February 2, 2024. [Online]. Available: https://www.statista.com/statistics/463369/number-of-global-oil-rigs/