Canada
October 23, 2020
Active Gas & Oil Rig Counts Increase in U.S. and Canada
Written by Brett Linton
The number of active U.S and Canadian gas and oil rigs increased yet 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 increased by 5 to 287, with oil rigs up 6, gas rigs down 1, and miscellaneous rigs unchanged. Compared to this time last year, this week’s count is down 543 rigs, with oil rigs down 485, gas rigs down 60, and miscellaneous rigs up 2. See the first graph below for a history of active U.S. rig counts.
