Canada
July 30, 2021
Active Drill Rig Counts Recovering in U.S. and Canada
Written by Brett Linton
The number of active oil and gas drill rigs slipped in the U.S. yet increased in Canada this past week, 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 declined by 3 to 488 rigs, with oil rigs down 2, gas rigs down 1, and miscellaneous rigs unchanged. Compared to this time last year, this week’s count is up 237 rigs, with oil rigs up 205, gas rigs up 34, and miscellaneous rigs down 2. See the first graph below for a history of active U.S. rig counts.
