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    Analysis

    August 28, 2026

    US rig count holds near multi-month high, Canada slips

    Written by David Schollaert

    Baker Hughes’ latest data shows US oil and gas drilling activity was steady this week at a multi-month high, while activity slowed slightly in Canada.

    For the week ended Aug. 28, the US rig count was flat from the previous week at 588. That’s just marginally below the 17-month high mid-August reading of 593. Oil rigs decreased by five, while gas rigs increased by five. Drilling activity remains ahead of last year, with 52 more active rigs in operation.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

    Read more from David Schollaert

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