Active rig counts slip in US, rise in Canada

Oil and gas drilling activity declined in the US through this week, while Canadian rig counts rebounded, according to the latest data from Baker Hughes.

US rig counts have remained within nine rigs of a multi-year low since last June. The latest count as of Jan. 8 marks the lowest level seen since November. In June 2024, we saw a two-and-a-half-year low of 581 rigs, while the highest count last year was 629 rigs in March.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.