Oil and gas drilling expands in US and Canada
Market DataJune 26, 2026Written byDavid SchollaertShare on LinkedInDrilling activity accelerated this week in both the US and Canada, according to recently released rig count figures fromBaker Hughes. The US. . .
Market DataJune 26, 2026Written byDavid SchollaertShare on LinkedInDrilling activity accelerated this week in both the US and Canada, according to recently released rig count figures fromBaker Hughes. The US rig count rose by 10 rigs week over week (w/w) to 573 rigs, setting a new 13-month high. There were 26 more rigs in operation this week compared to the same week last year. Canadian activity increased by 11 rigs w/w to a near four-month high of 197. Drilling is up substantially compared to this time last year, with 57 more rigs in operation today. The monthly international rig count was updated with May data earlier this month. 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. baker hughesOiloil and gasRig CountDavid SchollaertDavid 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