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

Brett Linton is a senior analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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