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March 2021

Oil and Gas Rotary Rig Counts: The total number of operating rigs in the U.S. for the week ending February 26th was 309 oil and 92 gas (totaling 401). In percentage terms, on a month on month (m/m) basis, oil rigs were up 4.7% and gas up 4.5% On a year over year (y/y) comparison, rigs were down 54.4% for oil and down 16.4% for gas. The combined figure for y/y was -49.1% or -388 rigs.
Oil and Gas Rotary Rig Counts:  The total number of operating rigs in Canada for the week ending February 26th was 92 oil and 71 gas (totaling 163). In percentage terms, on a month on month (m/m) basis, oil rigs were down 6.1% and gas down 6.6%. On a year on year (y/y) comparison, rigs were down 43.6% for oil and down 7.8% for gas. The combined figure for y/y was -32.1% or -77 rigs.
­­U.S. Steel Capacity Utilization: The total tonnage for the week ending February 27th was 1,749 million net tons, at a capacity utilization rate of 77.2%. The year-to-date tonnage output is 15,481 million net tons, at an average capacity utilization rate of 76.1%. In 2020, the same output total was 17,212 million net tons, at an average capacity utilization of 82.1%.
Advanced Durable Goods Orders: The U.S. Census Bureau reported that new orders for durable goods increased by 3.4% month-on-month (m/m) in January 2021, totaling $256.5M. This represents a 4.1% increase y/y.

February 2021

­­U.S. Steel Capacity Utilization: The total tonnage for the week ending January 30th, 2021 was 1,725 million net tons, at a capacity utilization rate of 76.1%. The year-to-date tonnage output is 6,889 million net tons, at an average capacity utilization rate of 75.7%. In 2019, the same output total was 7,668 million net tons, at an average capacity utilization of 82.4%.
Oil and Gas Rotary Rig Counts (US):  The total number of operating rigs in the U.S. the week as of January 29th was 295 oil and 88 gas (totaling 383). In percentage terms, on a month on month (m/m) basis, oil rigs were up 10.5% and gas up 6.0%. On a year on year (y/y) comparison, rigs were down 56.3% for oil and down 21.4% for gas. The combined figure for y/y was -51.4% or -406 rigs.
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