November energy market update

In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels. Trends in energy prices and rig counts are an advance indicator of demand for oil country tubular goods (OCTG), line pipe, and other steel products.

The Energy Information Administration (EIA) released their November Short-Term Energy Outlook (STEO) earlier this week. The report forecasts that both crude oil and natural gas prices will increase through the first quarter of 2025, though not as high as previous estimates. Explore the full STEO report covering energy spot prices, production, inventories, and more.

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.