Markets

摘要

Oil and gas drilling is a major consumer of tungsten in the form of tungsten carbide. The global drilling rig count rose for the fourth consecutive month in August, led mainly by a recovery in the rig count for the Americas, according to Baker Hughes data. The worldwide rig count stood at 1,434 in August, 4pc higher than 1,380 in July and 21pc above the 1,183 at the start of this year. The average rig count for January-August was 1,285, which is still 5pc lower than the 2020 average of 1,351 - itself 38pc down from the 2019 average. The 2020 average was almost 250 rigs below the average recorded in 2016, which was the lowest recorded annual average rig count since 1999.