Market Segment
December 5, 2025
US, Canadian rig counts increase this week
Written by Ethan Bernard
US and Canadian rig counts both increased this week, according to the latest Baker Hughes data released on Friday, Dec. 5.
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.
The US rig count stood at 549 this week, up five from the previous week. Oil rigs were up by six to 413, gas rigs down by one to 129, while miscellaneous rigs were unchanged at seven rigs.
Year over year, the US rig count was off by 40 rigs from 589 at the same week a year earlier. Oil rigs were down 69, gas rigs up 27, and miscellaneous rigs were up by two.
The offshore US rig count rose by one to 19, a four-rig increase year over year.
At the same time, the Canadian rig count rose by three from the previous week to 191. Oil rigs increased by five to 126, gas rigs declined by two to 65, and miscellaneous rigs were unchanged at zero.
For a year-over-year comparison, Canada’s count was down three rigs from the same week a year earlier. Meanwhile, oil rigs were up by two, gas rigs were down five, and miscellaneous rigs were unchanged.
The monthly international rig count has now been updated through November. It increased by 14 rigs from the previous month to 1,073. That’s off 45 rigs from November 2024.
