Features

US drilling activity falls further, climbs in Canada

July 11, 2025

US oil and gas drilling activity continued to decline for the 11th consecutive week, while Canadian counts climbed for the sixth week in a row, according to the latest data from Baker Hughes.

The US rig count fell by two this week to 537 rigs, the lowest level since late 2021. Compared to one year ago, 47 fewer rigs are in operation today.

In contrast, Canadian counts rose by 11 rigs this week to a 15-week high of 162. This week’s total is 27 rigs below the count from one year ago. Drilling in Canada usually dips in the spring as thawing ground restricts access to drilling sites, then picks back up in June and July.

The international rig count, updated monthly, increased by 27 rigs in June to 913. This figure is down by 44 rigs compared to one year ago.

The Baker Hughes rig count is significant for the steel industry because it is a leading indicator of oil country tubular goods (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.

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.