US and Canada oil and gas rig counts show mixed activity

Recent Baker Hughes data indicates that drilling activity in the United States remained stable this week, with the total rig count holding at 588. While the overall count is steady, there has been a shift in sector activity: oil rigs increased by two to a total of 449, whereas gas rigs decreased by two to 130. Despite the dip in gas rigs, current levels remain higher than the same period last year.

In Canada, drilling activity saw a decline, with the rig count falling by seven to 204. This follows a recent five-month high of 219 recorded three weeks ago. However, Canadian activity remains significantly higher than the same week in 2025.

In the United States, crude oil production averaged 13.862 million barrels per day for the week ending August 28, a slight increase from the previous week and up 423,000 barrels per day compared to a year ago. Regional data shows the Permian Basin rig count rose to 268, while the Eagle Ford count remained at 50.