Canada
October 23, 2022
Active US and Canadian Rig Counts Through October
Written by Brett Linton
The number of active drilling rigs were mixed this week, with counts increasing in the US and falling in Canada, according to data from oilfield services company Baker Hughes. Activity in both the US and Canada has leveled out over the last two weeks and is not quite back to pre-Covid levels. The number of oil and gas rigs in operation is important to the steel industry because it is a leading indicator of demand for oil country tubular goods (OCTG), a key end market for steel sheet.
