March energy market update

In this Premium analysis we explore North American oil and natural gas prices, drilling activity, and crude oil stock levels. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.

The Energy Information Administration (EIA) recently released its March Short-Term Energy Outlook (STEO). The latest report projects crude oil prices will rise slightly into the third quarter, then marginally ease in late 2025 through 2026 as increasing production exceeds demand. Natural gas prices are forecast to steadily rise, driven by demand outpacing production growth. Click here to read the full March 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.