Canada

Drilling activity slows at October's end in US and Canada

Written by Laura Miller

October 31, 2025

The latest Baker Hughes rig count report showed oil and gas drilling slowing in both the US and Canada in the last week of October.

The rig count is significant for the steel industry, as it is a leading indicator of demand for oil country tubular goods (OCTG), a key end market for steel sheet.

In the US, natural gas drilling increased while oil drilling decreased. Last week’s total US rig count of 546 was just 10 rigs higher than the slowest week of the year so far at the end of August.

Through October, the US count has averaged 564 rigs per week.

In Canada, there was one fewer gas rig operating last week. Oil drilling slowed more significantly with a net loss of 11 rigs.

Last week’s count of 187 active rigs in Canada was slightly higher than the 2025 weekly average of 178 rigs through October.

The monthly international rig count was updated earlier in October, incorporating figures for September, and so is unchanged from last week’s report. This count increased by eight from August to 1,084 rigs. September marked the busiest month for international drilling activity so far this year. Baker Hughes will release October figures next week.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. Since 2007, she has held various editorial and marketing positions with steel industry publications, associations, and mills. In 2021, after a five-year hiatus working across other industries, she returned to steel trade journalism, joining SMU in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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