Canada
January 30, 2026
Drilling activity up modestly in the US and Canada
Written by Brett Linton
The latest count of operational oil and gas rigs increased in both the US and Canada this week, according to the latest data released from Baker Hughes.
Total US rig counts rose by two week over week to 546. Although up, this count is just 10 rigs above the near four-year low set last August. It’s also 36 rigs below the same week last year.
Canadian activity increased by one rig this week to a total of 232. This time last year, there were 26 more rigs in operation.
The monthly international rig count was updated at the start of the month through December. The count was 1,065 rigs, eight rigs fewer than the November count and 49 fewer than the same month last year. Next week, January figures should be released.
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.
