Drilling activity in the US saw a slight uptick last week but continues to hover near multi-year lows, according to the latest data release from Baker Hughes. Meanwhile Canadian counts rose for the second-consecutive week and are now at a four-month high.
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 advanced indicator of demand for oil country tubular goods (OCTG), line pipe, and other steel products.
US drill rig activity resumed its downward trend last week, while Canadian counts increased to a four-month high, according to the latest data release from Baker Hughes.
US drill rig activity moved back up last week after drifting lower for four straight weeks. Meanwhile, Canadian counts slipped for the first time after a seven-week rally, according to the latest data from Baker Hughes.
US drill rig activity eased for the fourth consecutive week last week, while Canadian counts increased for the seventh week in a row, according to the latest data release from Baker Hughes.
US drill rig activity eased again last week, now down to levels not seen since late-2021, according to the latest data release from Baker Hughes. Canadian counts are moving in the opposite direction, inching higher for the sixth consecutive week to a three-month high.
US drill rig activity eased further last week, now down to a two-and-a-half-year low according to the latest update from Baker Hughes. In contrast, Canadian counts inched higher and are now at a three-month high.
Crude oil prices are forecast to ease slightly through the remainder of the year, while natural gas prices are expected to move higher following recent lows
Oil and gas drilling activity in the US ticked down last week, remaining near a two-year low, according to the latest update from Baker Hughes. In contrast, the Canadian count inched higher and is now at a 10-week high.
President Joe Biden announced that the US will extend the suspension of Section 232 tariffs on steel products imported from Ukraine for another year. The Biden administration first lifted the 25% Section 232 tariffs on steel imports from Ukraine after the breakout of war with Russia in 2022. The initial waiver was good for one […]
S drill rig activity held steady last week, remaining near two-year lows according to the latest update from Baker Hughes
The US OCTG Manufacturers Association (USOMA) announced that the US Customs and Border Protection (CBP) agency made an initial affirmative determination of duty evasion practices.
US drill rig activity eased further last week, receding to levels last seen at the start of 2022 according to the latest update from Baker Hughes
Tenaris is blaming unfairly traded OCTG imports flooding the US market for its decision to lay off approximately 170 employees.
Drilling activity ticked up in the US but declined in Canada during the week ended May 17, according to the latest release from Baker Hughes.
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
Nucor said EVP Douglas J. Jellison plans to retire on June 8 after more than 33 years with the company. Randy J. Spicer will be promoted to EVP effective May 12.
Drilling activity declined in the US but increased in Canada, according to the latest data from Baker Hughes.
The number of active rigs in the US is now at the lowest level seen in over two years, while Canadian rigs have fallen to a four-month low.
Drilling activity increased in the US but declined in Canada, according to the latest data from Baker Hughes.
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
Drilling activity decreased in the US but rose in Canada in the week ended April 12, according to the latest data from Baker Hughes.
Evraz North America said there was no impact on production from a fire that broke out at its Pueblo., Colo., steel mill on Friday.
The number of active rigs in the US eased to a nine-week low, while Canadian activity continued it’s seasonal wind down.
Oil and gas drilling activity in North America slowed this week, according to the latest figures from Baker Hughes.
North American rig count activity declined this week, according to the latest data from Baker Hughes. The number of active rigs in the US eased from last week’s 6-month high, while Canadian activity continued to wind down.
Rig counts in the US and Canada were mixed this week, according to the latest data from Baker Hughes.
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
The latest steel import license data from the US Commerce Department shows 2.39 million short tons (st) of steel entered the country in February 2024, down 6% from the month prior.
US and Canadian rig counts both eased this week, according to the latest release from Baker Hughes on Mar. 8. Recall that US rigs had reached a 5-month high last week.