September energy market update

This Premium analysis covers oil and natural gas prices, drilling rig activity, and crude oil stock levels in North America. Energy prices and rig counts are advance indicators of demand for oil country tubular goods (OCTG), line pipe, and other steel products.

The Energy Information Administration (EIA) released its September Short-Term Energy Outlook (STEO) earlier this month. It forecast crude oil prices to tick higher through the remainder of the year. In line with its previous forecast, it attributed the predicted rise to increased inventory draws and production cuts. Natural gas prices are expected to increase through the beginning of next year as US export demand outweighs production.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.