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    Analysis

    January 20, 2023

    US, Canadian Drilling Rigs Diverge This Week

    Written by David Schollaert

    Canadian drilling rig numbers rose again this past week, while the number of working rigs in the US edged down slightly, according to data from oilfield services company Baker Hughes.

    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.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

    Read more from David Schollaert

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