Canada
June 5, 2026
Oil and gas rig drilling picks up in US and Canada
Written by Brett Linton
US and Canadian drilling activity ticked higher this week, according to recently released Baker Hughes figures.
The US rig count increased by one rig week over week to a one-year high of 563 rigs. This count consisted of 431 oil rigs, 124 gas rigs, and eight miscellaneous rigs. There were four more rigs in operation this week than the same week of 2025.
Canadian activity rose by seven rigs this week to an 11-week high of 169, made up of 115 oil rigs and 54 gas rigs. Drilling is up substantially compared to this time last year, with 55 more rigs in operation today.
The monthly international rig count was updated this week with May data. This count was 1,046 rigs, down three from the previous month and 25 fewer than the same month one year ago.
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.
