Canada
July 17, 2026
Oil and gas rig counts rise in US and Canada
Written by Brett Linton
Drilling activity ticked higher this week in both the US and Canada, according to recently released rig count data from Baker Hughes.
US rig counts rose by seven from the prior week to a 15-month high of 588 rigs. Activity has recovered in every week but one since late April. Drilling is up substantially compared to this time last year, with 44 more rigs in operation today.
Following last week’s 11-rig stumble, Canadian activity recovered by 19 rigs this week to a four-month high of 198. This time last year there were 26 fewer rigs in operation.
The monthly international rig count was updated earlier this month, showing 1,073 active rigs in June. This was up 27 from the previous month, but two 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.
