Pipe and Tube
November 22, 2024
Written by Brett Linton
The number of oil and gas rigs operating in the US and Canada remained relatively stable this week, according to the latest data from Baker Hughes. The US drill rig count inched lower by one, while the Canadian count rose by one.
US rig activity has remained around this multi-year low territory since June. Drilling in Canada has edged lower across the last few weeks but remains historically strong.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
Drilling activity increased in the US this week but declined in Canada, according to active oil and gas rig count figures recently released from Baker Hughes. The US rig count rose by four to 595 rigs this week, now at the highest level recorded in over two years. Canadian counts eased to a 10-week low of 197 this week, down 10 rigs from the prior week.
The US Department of Commerce has raised the anti-dumping duties (AD) on imports of oil country tubular goods (OCTG) from Vietnam.
U.S. Steel said it has obtained the air permit necessary to enter the next phase of construction of the new quench and tempering (Q&T) facility at its Fairfield Tubular Operations in Alabama.
US steel imports increased 7.8% in July and, based on US Department of Commerce license data, rose even higher in August.