OCTG

Active rig count declines in US, Canada

Written by David Schollaert

August 22, 2025

Oil and gas drilling activity slowed in the US and Canada this past week. This is an unfamiliar trend after both regions have seen repeated gains of late.

The weekly count of active rotary rigs in the US, as reported by oilfield services provider Baker Hughes, was down by one at 538 as of Friday, Aug. 22. Active oil rigs decreased by one, while gas rigs were unchanged at 122. Miscellaneous rigs were also flat at five total week on week (w/w).

In Canada, the active rig count declined by three from the previous week to 180. Gas drilling activity was down one w/w at 56, while miscellaneous drilling increased by one rig to one.

The international rig count is reported monthly at the beginning of each month. The July count was 914 rigs, up one from June but down 20 from July last year.

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

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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