Analysis
April 17, 2026
US, Canadian weekly rig counts continue to decline
The US and Canadian oil and gas rig counts inched lower this past week, according to the latest Baker Hughes data.
In the week ending April 17, the US had 543 active rotary rigs in operation, down two from the week before and down 42 from a year earlier. Oil rigs fell by one, while gas rigs declined by two and miscellaneous rigs rose by one.
Canada’s rig count declined by five net rigs to 130. Active oil rigs fell by six while one additional gas rig was added. Compared to the previous year, Canada’s count is down by just four. 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.
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.
