OCTG

Active rig counts slipped in US, Canada
Written by David Schollaert
August 1, 2025
Drilling activity slowed in the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.
The US rig count fell by two rigs week over week (w/w) to a total of 540. This is just three rigs above the multi-year low of 537 seen about a month ago. Compared to one year ago, there are 46 fewer US rigs in operation this week.
Canada’s count decreased for the first time in nine weeks, declining by five rigs w/w to a total of 177. Canadian activity is down by 42 rigs compared to this time last year.

The monthly international rig count increased by one rig as of Aug. 1 to 914. This count is down by 20 from 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.

David Schollaert
Read more from David SchollaertLatest in OCTG

Rig count increases in the US and in Canada
Oil and gas drilling activity increased this week in the US and Canada for the third consecutive week, according to the latest Baker Hughes rig count data. US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.

Oil and gas rig counts rise in US and Canada
US rig counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.

September energy market update
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through September. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.

Rig count dips again in both US and Canada
Oil and gas drilling activity waned in the US and Canada this past week. Ticking own for the second straight week in both regions.

Active rig count declines in US, Canada
Oil and gas drilling activity slowed in the US and Canada this past week. An unfamiliar trend after both regions saw repeated gains of late.