OCTG

Rig count dips again in both US and Canada

Written by David Schollaert

August 29, 2025

Oil and gas drilling activity waned in the US and Canada, with the rig count ticking down for the second straight week in both countries.

The US rig count stood at 536 as of Friday, Aug. 29, down two from the week prior, according to data from oilfield services provider Baker Hughes. Active oil rigs increased by one, while gas rigs were down by three. Miscellaneous rigs were flat.

In Canada, the rig count stood at 175, down five from the prior week. Active oil rigs decreased by three. The gas rig count was down one. And the miscellaneous rig count also ticked down by 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 of 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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