Canada
July 6, 2021
Continued Recovery for U.S. and Canadian Rig Counts
Written by Brett Linton
Prompted by rising energy prices, the number of active oil and gas drill rigs increased again this past week for both the United States and Canada, according to data released by oilfield services company Baker Hughes. The rig 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 rose by 5 to 475 rigs, with oil rigs up 4, gas rigs up 1, and miscellaneous rigs unchanged. Compared to this time last year, this week’s count is up 212 rigs, with oil rigs up 191, gas rigs up 23, and miscellaneous rigs down 2. See the first graph below for a history of active U.S. rig counts.
