Canada
September 24, 2021
U.S. & Canadian Active Rig Counts Slowly Recovering
Written by Brett Linton
The number of active oil and gas drill rigs increased in both the U.S. and Canada this past week, according to data released on Friday afternoon 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 9 to 521 rigs, with oil rigs up 10, gas rigs down 1, and miscellaneous rigs unchanged. Compared to this time last year, this week’s count is up 260 rigs, with oil rigs up 238, gas rigs up 24, and miscellaneous rigs down 2. See the first graph below for a history of active U.S. rig counts.
