US oil and gas rig count climbs to 588, Canada hits five‑month high

The Baker Hughes weekly rig count shows the United States operating 588 active rigs, a modest rise of one from the previous week and an increase of 48 compared with the same period last year. Oil rigs in the U.S. rose to 451, up 1 week‑over‑week and 41 year‑over‑year, while natural‑gas and miscellaneous rigs were unchanged.

In Canada, the count rose for the third consecutive week, adding 15 rigs to reach 219, the highest level in five months and 42 rigs above the same week in 2025. Combined, North America had 1,073 rigs in June, up 27 from May but two fewer than a year earlier. The data is viewed as a leading indicator for demand for oil‑country tubular goods, a key market for the steel industry.

These modest gains suggest continued strength in oil‑focused drilling activity across the two countries, supporting higher demand for related equipment and materials.