Oil and gas rig drilling strengthens in US and Canada
CanadaJuly 31, 2026Written byBrett LintonShare on LinkedInDrilling activity increased in both the US and Canada this week to new multi-month highs, according to recently released rig count data fromBaker. . .
CanadaJuly 31, 2026Written byBrett LintonShare on LinkedInDrilling activity increased in both the US and Canada this week to new multi-month highs, according to recently released rig count data fromBaker Hughes. US rig counts rose by one this week to 588 rigs, matching the mid-July count for a 15-month high. Activity has steadily increased over the last two months. Drilling is up substantially compared to this time last year, with 48 more rigs currently in operation. Canadian activity increased for the third-consecutive week, jumping 15 rigs to a five-month high of 219 rigs. Drilling is also substantially higher than the same week of 2025, with 42 more rigs operating today. 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. Next week this count should be updated through July. 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. OCTGOilRig CountBrett LintonBrett 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. Read more from Brett Linton