Features
Drill rig activity ticks higher in US and Canada
Written by Brett Linton
September 12, 2025
Active rig counts increased in both the US and Canada last week, according to figures released by Baker Hughes. Although rising, US counts continue to hover just above historic lows. Canadian figures remain comparatively healthy, rising to a six-month high this week.
Total US rig counts climbed by two week over week (w/w) to 539. This is only three rigs above the near-four-year low seen two weeks prior. There are 51 fewer US rigs in operation this week compared to this time last year.
Canadian activity increased for the third consecutive week, rising by five rigs w/w to 186. Despite recent increases, Canadian counts are down 32 rigs compared to those seen one year prior.

The monthly international rig count declined by three rigs in August to 1,076, 66 fewer than levels seen 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
Read more from Brett LintonLatest in Features

Join SMU and AMU for a Community Chat with Wiley on Trump, Trade, and Tariffs
Want to know the latest on Trump, tariffs, and trade policy - and the impact on both steel and aluminum? Then join SMU, AMU, and leading law firm Wiley for a Community Chat on Thursday, Nov. 13, at 11 am ET.

Final Thoughts: Survey says edition
It's can-kicking at its finest. And it’s been drawn out! Some are getting so good at it, they’re kicking cans and taking names.

Final Thoughts
We just wrapped up another Steel 101 workshop, easily the most hands-on industry workshop on steelmaking and market fundamentals.

Leibowitz: Renewed trade war with China over rare earths
On Oct.10, President Trump announced major increases in tariffs on Chinese goods. The trigger was a new regime of export controls on rare earth metals and products using those elements, including magnets, capital equipment, and catalysts for catalytic converters in cars and trucks.

CRU: Soft demand weighs on sheet imports into the US
US domestic sheet prices have remained rangebound in recent weeks as supply tightness met weak demand. Demand for steel produced in the US increased among some Mexican industrial buyers....