Indonesia Oil Min: Rig Shortage Impedes Crude Output Boost

Crude oil producers are finding it difficult to boost their output due to a shortage of rigs, Indonesia’s Mines and Energy Minister said over the weekend.

“We (OPEC) will say that we will increase crude oil supply to curb rising oil prices, but it’s not easy for global producers to do this because it’s difficult to get rigs now,” said Purnomo Yusgiantoro.

Purnomo said there was a scarcity of rigs because producers are racing to boost output amid soaring oil prices.
Rigzone