Canada
October 22, 2021
U.S. and Canada Active Rig Count Update
Written by Brett Linton
The number of active oil and gas drill rigs decreased in both the U.S. and Canada this past week, according to data released Friday 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 1 to 542 rigs, with oil rigs down 2, gas rigs up 1, and miscellaneous rigs unchanged. Compared to this time last year, this week’s count is up 255 rigs, with oil rigs up 232, gas rigs up 26, and miscellaneous rigs down 3. See the first graph below for a history of active U.S. rig counts.
