Canada
August 28, 2020
Active Gas & Oil Rig Counts in U.S. and Canada
Written by Brett Linton
Active U.S and Canadian gas and oil rigs were flat to down 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 remained steady at 254, with oil rigs down 3, gas rigs up 3, and miscellaneous rigs unchanged. Compared to this time last year, this week’s count is down 650 rigs, with oil rigs down 562, gas rigs down 90, and miscellaneous rigs up 2. See the first graph below for a history of active U.S. rig counts.
