Canada
July 10, 2026
Rig count reaches 14-month high in US, falls again in Canada
Written by Laura Miller
The latest data from oilfield services provider Baker Hughes show that oil and gas drilling in the US pushed higher in the week ending July 10, while it tapered off further in Canada.
As oil and gas drilling held steady, the US rig count inched up to 581 with the addition of one miscellaneous rig. Drilling is now at its highest point since early May 2025. Oil and gas rigs were unchanged week over week (w/w). Compared to this time last year, there are 44 more active US rigs.
In Canada, the rig count decreased by 11 w/w to 179, falling for a second consecutive week from a 15-month high of 197 in late June. Oil rigs were down by 12 w/w and gas rigs by one, but two additional miscellaneous rigs softened the overall decline. At this time last year, there were 17 fewer rigs in operation than there are now.
The monthly international rig count was updated last week with June data. The June count was 1,073 rigs, up 27 from May but down two from the same month a 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.
