Saudi Arabia is one of the very few countries which has increased its drilling for new oil and gas wells since prices began to slump in the middle of 2014. The number of rigs drilling for oil and gas around the world has fallen from a peak of 1,382 in July 2014 to just 920 in October 2016. The international rig count excludes North America, which has also experienced a slump in drilling, as well as onshore China, Russia and the Caspian region. However, the number of rigs operating in Saudi Arabia has climbed from 105 to 126 over the same period, according to oilfield services company Baker Hughes. The only other countries to report a significant increase in rig counts were the United Arab Emirates and Kuwait, which produce from the […]