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4 clusters · 6 sources · 22 days · First seen · Last updated

Categories: BUSINESS

US‑Canada oil and gas drilling trends

Entities: United States · Canada · Baker Hughes

Overview

In early July 2026 U.S. oil drilling held at 445 active wells and natural‑gas drilling at 126 wells, while the Baker Hughes rig count rose to 581 rigs, the highest since May 2025. Canada’s rig count fell to 179, marking a second weekly decline, highlighting diverging momentum.

By late July the U.S. rig count remained near a 15‑month high with 587‑588 active oil‑and‑gas rigs, slipping one unit on the week of 17 July before edging up to 588 on 24 July. Oil rigs hovered around 450‑451, while gas rigs rose modestly to 127. Crude output dipped slightly to about 13.80 million barrels per day. Canada rebounded, climbing to 204 rigs (a four‑month high) on 24 July and then to 219 rigs – the highest in five months – on 31 July, staying well above the same period in 2025.

The combined North‑American tally stayed at 1,073 rigs for June, a small rise from May but a touch below June 2025. These trends reinforce a robust U.S. drilling sector and a modest but accelerating recovery in Canada, sustaining demand for oil‑country tubular goods and related steel‑industry products.

Timeline

  1. about 9 hours ago

    [BUSINESS] 3 sources
    US oil and gas rig count climbs to 588, Canada hits five‑month high

    US rig count hits 588, up 1 week and 48 year‑over‑year; Canada reaches 219 rigs, a five‑month high, indicating stronger oil drilling and higher steel‑related demand.

  2. 7 days ago

    [BUSINESS] 3 sources
    US and Canada drill rig counts stay near multi‑month highs

    US rigs fell to 587, near a 15‑month peak, while Canada rose to 204, a four‑month high; the combined international count hit 1,073 in June, signaling strong OCTG demand.

  3. 21 days ago

    [BUSINESS] 3 sources
    U.S. oil and gas rigs climb to 581 as Canada rig count drops to 179

    U.S. rig count rose to 581, the highest since May 2025, while Canada's fell to 179, marking divergent trends in North American drilling activity.

  4. 21 days ago

    [BUSINESS] 2 sources
    US Oil and Gas Wells Remain Steady as Production Grows Year‑Over‑Year

    U.S. oil wells held at 445 and natural‑gas wells at 126 for the week ending 9 July, with annual increases, while Canada’s oil wells rose year‑over‑year, keeping North America a steady global energy supplier.

Sources

boereport.com · forexlive.com · naftemporiki.gr · oilprice.com · sbctv.gr · steelmarketupdate.com