OCTG
Rig count increases in the US and in Canada
Written by Brett Linton
September 26, 2025
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.
Despite the gains. the US rig count continues to hover just above historic lows. Canadian figures remain comparatively healthy.
The total US rig count rose by seven week over week (w/w) to 549. Although higher, this count is just 13 rigs above a nearly four-year low reached in late August and is 38 rigs below the same week of 2024.
Canadian activity increased for the fourth straight week, up by one rig to 190. This is the highest rate since March. Despite recent increases, Canadian activity is down by 28 rigs compared to this time last year.
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
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ncreases through September, according to the latest Baker Hughes rig count data.
US and Canadian rig counts stabilize
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.