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
SMU Week in Review: Sept. 8-12, 2025
As governments falter, ecosystems unravel, and moral compasses spin like casino wheels, the American steel industry remains stubbornly stable. Come, take a walk with me through a recap of this week's steel industry news...
Apparent steel supply remains elevated in July
Apparent supply totaled 8.88 million short tons (st) in July, down 38,000 st from June and 6% higher than the same month last year
Price on Trade: IEEPA tariffs head to the Supreme Court, DOJ ramps up trade enforcement
International trade law and policy remain a hot topic in Washington and beyond this week. We are paying special attention to the ongoing litigation of the president’s tariff policies and the administration’s efforts to heighten trade enforcement.
Final Thoughts
When will we see prime scrap become scarce as the worldwide transition to EAF melting increases, especially for HRC production? It's a question I've been asked a lot.