Features

Rig count ticks lower in the US, higher in Canada

June 20, 2025

Oil and gas drilling activity declined in the US again this week, while the Canadian rig count improved, according to Baker Hughes.

The US rig count declined by one this week to 554, the eighth-consecutive weekly decline and the lowest rate seen since November 2021. Compared to the same week last year, 34 fewer rigs are in operation today.

The Canadian rig count increased by one rig this week to 139, 27 fewer than the same week of 2024. Canadian activity slows each spring as thawing ground conditions limit access to drilling sites. It then recovers across June and July.

The international rig count is reported monthly at the beginning of each month. The May count was 886 rigs, down five from April and 67 fewer than one year ago.

The Baker Hughes rig count is significant for the steel industry because it is a leading indicator of demand for oil country tubular goods (OCTG), a key end market for steel sheet.

For a history of the US and Canadian rig counts, visit the rig count page on our website.

Brett Linton

Brett Linton is a senior 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.