Oil and gas rig counts decline in US and Canada

Drilling activity eased in both the US and Canada this week, receding from multi-month highs, according to recently released Baker Hughes rig count data.

US rig counts fell by five this week to 588 rigs, slipping from the 17-month high reached last week. Prior to this week, activity had steadily increased for nearly two full months. Drilling is up substantially compared to this time last year, with 50 more rigs currently in operation.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.