OCTG

Active rig counts rise in US and Canada

Written by David Schollaert

October 19, 2025

Drilling activity increased in both the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes. US counts remain just above historical lows, while Canadian figures are relatively healthy.

The total US rig count was up one rig week over week (w/w) to 548. This is just 12 rigs higher than the nearly four-year low reached in late August. It is also 37 rigs below the same week last year.

The Canadian rig count advanced to 198, up seven rigs w/w. That’s the highest weekly reading since mid-March. But despite recent increases, Canadian activity is down 19 rigs compared to this time last year.

The monthly international rig count was updated this week through September. It increased by eight rigs to 1,084. But that’s still 72 fewer figs than year-ago levels.

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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