Canada
October 18, 2019
Active Gas & Oil Rig Counts Decline in U.S. and Canada
Written by Brett Linton
The U.S and Canada active rig count declined again this past week, according to oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand.
The number of active U.S. rigs fell by 5 to 851, with oil rigs up 1, gas rigs down 6, and miscellaneous rigs unchanged. Compared to this time last year, the 851 count is down 216 rigs, with oil rigs down 160, gas rigs down 57, and miscellaneous rigs up 1. See the first graph below for a history of active U.S. rig counts.
