Canada
December 12, 2025
Written by Ethan Bernard
The US rig count edged down this week while the Canadian count inched up, according to the latest Baker Hughes data released on Friday, Dec. 12.
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.
Drilling activity increased in the US this week but declined in Canada, according to active oil and gas rig count figures recently released from Baker Hughes. The US rig count rose by four to 595 rigs this week, now at the highest level recorded in over two years. Canadian counts eased to a 10-week low of 197 this week, down 10 rigs from the prior week.
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