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    Pipe and Tube

    September 16, 2025

    September energy market update

    Written by Brett Linton

    In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through September. 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 Short-Term Energy Outlook (STEO) for September. The latest report continues to forecast declining crude oil prices, which are expected to fall sharply into 2026 as rising OPEC+ output inflates inventories. Natural gas prices are expected to rise due to flat production and increasing export demand. Gasoline prices and household fuel spending are expected to decline, even as consumption edges higher. Electricity generation continues to expand, led by solar growth. View the full September STEO report here for detailed insights on energy 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.

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