Canada
March 6, 2026
Oil and gas drilling slows in Canada, ticks higher in US
Written by Laura Miller
Oil and gas drilling continued to slow in Canada but ticked higher in the US this past week.
Baker Hughes’ rig count report for the week ended March 6 showed 551 active rotary rigs in the US and 205 in Canada.
The US count is up by one from the previous week’s report and even with the three weeks before that. Compared to the same week last year, however, active drilling is down by 41 rigs.
Canada’s rig count continued to slide, falling by nine net rigs. Oil and gas rigs were down by six and four, respectively, while one miscellaneous rig was gained. The count of 205 is down by 29 rigs compared to last year.
Baker Hughes reported a 33-rig increase in the international rig count for the month of February. Compared to the same month last year, there were 15 more rigs in operation.
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.
