N-D Offshore_WoodMac1

With much of the excess supply exiting the market, the utilization rate for the global floating rig fleet is anticipated to gradually increase over the next five years, reaching 92% by 2026. Next year, the forecasted floater count of 123 matches the level seen back in 2019, but utilization will be 88% instead of 69% due to a smaller fleet of available rigs.

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