Market Data
June 21, 2020
Active Gas & Oil Rig Counts in June
Written by Brett Linton
Active U.S and Canadian gas and oil rigs declined again this past week, according to 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 fell by 13 to 266, with oil rigs down 10, gas rigs down 3, and miscellaneous rigs unchanged. Compared to this time last year, the 266 count is down 701 rigs, with oil rigs down 600, gas rigs down 102, and miscellaneous rigs up 1. See the first graph below for a history of active U.S. rig counts.
