Market Data
July 17, 2020
Active Gas & Oil Rig Counts in July
Written by Brett Linton
The multi-month decline in active U.S and Canadian gas and oil rigs seems to have flattened out, 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 253, with oil rigs down 1, gas rigs down 4, and miscellaneous rigs unchanged. Compared to this time last year, the 253 count is down 701 rigs, with oil rigs down 599, gas rigs down 103, and miscellaneous rigs up 1. See the first graph below for a history of active U.S. rig counts.
