Insight
Asia-Pacific rig outlook - oversupplied and underutilised
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Report summary
The global rig market is one of the many victims of the oil price crash. An investment boom prior to the oil price's downward spiral has led to a supply glut - coupled with decreased demand, rig managers are in a conundrum on what to do next. In Asia Pacific, offshore rig activity peaked in August 2014, but utilisation has since dropped below 60%.
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- Asia-Pacific rig outlook - oversupplied and underutilised
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