Markets

摘要

Oil and gas drilling is a major consumer of tungsten in theform of tungsten carbide. The global drilling rig count pickedup in November to pre-June levels, according to BakerHughes’ data. This after declining pretty much month onmonth since February. In November, the worldwide rig countstood at 1,074, compared to a count of 1,050 in August and2,125 in February.The largest falls in the rig count since the beginning of theyear have come in North America, with the US rig countdropping from 791 in January to only 250 in August (a dropof 68pc), before recovering to 310 in November. The count inCanada fell from 249 in February to 18 in June and has sincerecovered to 95 in November.