Manufacturers/End Users
January 9, 2026
Rig count update: US activity decreases, Canada increases
Written by Kristen DiLandro
The number of oil and gas rigs operating in the US fell this week, while Canadian activity surged, according to the latest data released from Baker Hughes.
The total US rig count decreased by two week over week (w/w) to 544 as of Jan. 9. This week’s number reflects an overall drop of 40 rigs compared to the same week last year.
Canadian activity increased by 96 rigs this week to a total of 197 vs. the prior week. However, activity is down compared to the same week last year, when Canada counted an additional 19 operational rigs.
The monthly international rig count total through December 2025 totaled 1,065 rigs. This count decreased by eight rigs month over month. The month showed 49 fewer rigs than the same month last year.
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.
