Canada
April 10, 2026
Oil and gas drilling activity slows in US and Canada
Written by Brett Linton
Drilling activity declined in both the US and Canada this week, according to active oil and gas rig count figures released from Baker Hughes on Friday.
The US rig count declined by three week over week to 545, just nine rigs higher than the multi-year low seen last August. This time last year, there were 38 more rigs in operation.
Canadian activity declined by seven rigs this week to a three-month low of 135. Historically, Canadian drilling ramps up at the start of each year, then declines through April and May as thawing ground conditions limit access to drilling sites. One year ago, there were three more rigs in operation.
The monthly international rig count was updated earlier this month with March figures. This count was 1,058 rigs, down 54 from the previous month and 37 fewer than the same month one year prior.
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.
