Energy Prices, Rotary Rig Counts for July 2017

Saturday, July 15, 2017 2:30 PM Written by 
Published in Energy

Since our last report, the price of crude oil has continued to decline and the price of natural gas has been stable. The number of operating rigs exploring for both oil and gas has continued to increase. The prices of oil and natural gas drive the consumption of energy-related steel products including oil country tubular goods, pipe fittings and well head equipment, among others. A significant volume of hot rolled coil is used to make welded tubular goods.


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Peter Wright

Peter Wright is an Independent Contractor for Gerdau, Steel Market Update and the State of Wyoming. He is responsible for Steel Market Update's development and analysis of steel and economic indicators and is an instructor for SMU's Steel 101 Workshop. He has 50+ years of experience in the steel industry in metallurgy, quality engineering, sales and operations. He is nationally recognized as an expert on the long products market. Contact him at

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