Canada
September 20, 2024
Written by Brett Linton
Drilling activity in both the US and Canada edged lower last week, according to the latest data from oilfield services provider Baker Hughes.
US rig counts remain near multi-year lows, which is the territory they have been in for the last three months. Canadian counts have edged lower in the past two weeks, slipping from a six-month high earlier this month.
Global raw steel production slowed for the third month in a row in August, according to the latest figures from the World Steel Association (worldsteel).
Metalformers’ optimism softened in the Precision Metalforming Association (PMA) September Business Conditions Report.
Drilling activity increased in the US this week but declined in Canada, according to active oil and gas rig count figures recently released from Baker Hughes. The US rig count rose by four to 595 rigs this week, now at the highest level recorded in over two years. Canadian counts eased to a 10-week low of 197 this week, down 10 rigs from the prior week.
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