Rig counts decline again in US and Canada

Oil and gas drilling activity eased for the third consecutive week in both the US and Canada this week, according to Baker Hughes. US rig counts remain just above multi-year lows, while Canadian activity continues its seasonal slowdown.

US drilling activity slipped by seven to 583 rigs this week, the lowest weekly rate seen since January. Drilling activity has remained at reduced levels for the past 10 months, recently slipping to a three-year low of 576 rigs in January.

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.