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    Environment and Energy

    Active Gas & Oil Rig Counts in November

    Written by Brett Linton


    The active U.S and Canadian drill rigs count continues to inch upwards, according to updated data released by oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand.

    The number of active U.S. rigs increased by 4 to 300, with oil rigs up 5, gas rigs down 1, and miscellaneous rigs unchanged. Compared to this time last year, this week’s count is down 517 rigs, with oil rigs down 458, gas rigs down 59, and miscellaneous rigs unchanged. See the first graph below for a history of active U.S. rig counts.

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