Despite a Rise in February’s Crude Production, Nigeria’s Oil Rig Count Stagnates.

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Nigeria’s oil rig count remained constant at 13 during the month of February despite an increase of around 48,000 barrels per day, According to study of the most recent information provided by the Organization of Petroleum Exporting Countries (OPEC).

Nevertheless, according to OPEC statistics, the average number of rigs in Nigeria decreased from 11 in 2020 to 7, 10, and then 13 in 2022 as fresh investments started to trickle into the nation.

Yet, in contrast to Nigeria’s 13 rigs, the United States had 758 oil rigs as of February, Canada had 248 rigs, and Mexico had 46 rigs, bringing the total number of rigs in the Americas to 1,954 rigs. The total number of rigs among OPEC members was 407, while the global rig count was 2,004.

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