Features

Drilling activity down further in US, climbs in Canada
Written by David Schollaert
July 3, 2025
The rig count declined for the 10th consecutive week in the US, while the Canadian count rose for the fifth straight week, according to Baker Hughes.
The US rig count fell by eight this week to 539, the lowest rate since October 2021. Compared to the same week last year, 46 fewer rigs are in operation today.
Canadian activity improved by 11 rigs this week, now up to a 13-week high of 151 rigs. The Canadian count is down by 24 from this time last year. Activity typically slows down each spring as thawing ground conditions limit access to drilling sites, then picks back up in June and July.

The international rig count is reported monthly at the beginning of each month. The June count was 913 rigs, up 27 from May but 44 fewer than one year ago.

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

David Schollaert
Read more from David SchollaertLatest in Features

SMU Community Chat replay now available
The latest SMU Community Chat webinar reply featuring Tom Derry of the Institute for Supply Management (ISM), is now available on our website to all members.

Final Thoughts
A tariff on Brazilian pig iron could cause great upheaval in the market.

Register for the next SMU Community Chat with ISM CEO Tom Derry!
Institute for Supply Management CEO Tom Derry will join SMU for our next Community Chat on Wednesday, July 23, at 11 a.m. ET (10 a.m. CT). You can register here.

Service centers: Mill orders recover in June
SMU’s Mill Order Index (MOI) rebounded in June after declining for three straight months. The gain complemented a modest boost in service center shipments for the month, according to our latest service center inventories data.

AISI: Raw steel production eases after recent high
Domestic steel mill output edged lower last week, according to the American Iron and Steel Institute (AISI). While down, production remains historically strong since peaking in early June.