Number of global oil rigs 1975-2024
The average number of oil rigs worldwide decreased between 1975 and 2024. In the latter year, figures averaged 1,734 units. This was the lowest figure since 2021. 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 694 in January 2024, of which 543 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 96.4 million barrels per day in 2023. This was up from 94 million barrels the year before, which showcased the continued demand for oil products. Oil production figures include crude oil, shale oil, oil sands, and natural gas liquids.
