Analyst firm: light at the end of the tunnel for rig market

Recovery in the rig market is closer than ever, even though the market continues to suffer an imbalance due to oversupply of rigs, says an analysis from Westwood Global Energy Group. The Norwegian market offers hope.

by CHRISTIAN CARLSEN

Since the oil price collapsed in 2014, the rig market has stagnated. However, in recent months the tone from actors and observers has begun to shift. Now, there is a light at the end of the tunnel, according to a new analysis from Westwood Global Energy Group.

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