Canada
March 13, 2026
Drilling activity increases in US, falls in Canada
Written by Brett Linton
The latest tally of active oil and gas rigs increased in the US this week but declined in Canada, according to figures recently released from Baker Hughes.
Total US rig counts rose by two week over week to a 16-week high of 553. Although up, US activity is just 17 rigs above the near four-year low seen last August. This time last year there were 39 more rigs in operation.
Canadian activity slipped to a nine-week low of 197, eight rigs less than the prior week and two fewer than this time last year.
The monthly international rig count was updated at the start of the month through February. The count was 1,112 rigs, up 33 from the previous monthly count and 15 higher 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.
