The Energy Information Administration’s (EIA) October Short-Term Energy Outlook was released earlier this month, forecasting spot prices and production for crude oil and natural gas. Crude oil prices are forecast to remain near current levels for the remainder of this year and to slightly increase in 2023. Natural gas prices are expected to rise slighly […]
The number of active drilling rigs declined in the US this week, while Canadian counts increased, according to data from oilfield services company Baker Hughes. Activity in both the US and Canada has leveled out in recent weeks. The number of oil and gas rigs in operation is important to the steel industry because it […]
The number of active drilling rigs increased in both the US and Canada this week, according to data from oilfield services company Baker Hughes. The number of oil and gas rigs in operation is important to the steel industry because it is a leading indicator of demand for oil country tubular goods (OCTG). The number […]
The Energy Information Administration’s August Short-Term Energy Outlook (STEO) was released earlier this month, forecasting spot prices and production for crude oil and natural gas. Crude oil prices are expected to remain at heightened levels for the remainder of this year, rising slightly into 2023. Natural gas prices are forecast to remain near recent highs […]
The number of active drilling rigs declined in both the US and Canada this week, according to data from oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of demand for oil country tubular goods (OCTG). […]
The number of active drilling rigs in the US and Canada was relatively flat in both countries this week, according to data from oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of demand for oil […]
The Energy Information Administration’s August Short-Term Energy Outlook (STEO) remains subject to a high level of uncertainty due to the volitle global energy market. Contributing factors include Russia’s invasion of Ukraine, foreign and domestic oil production levels, and OPEC+ production decisions. Due to these variabilities, the EIA continues to warn that actual price outcomes could […]
The number of active drilling rigs in the US and Canada slightly declined in both countries this week, according to data from oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of demand for oil country […]
The number of total active drilling rigs in the US and Canada increased this week, according to data from oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand. The […]
The Energy Information Administration’s July Short-Term Energy Outlook (STEO) remains subject to a high level of uncertainty, driven by factors such as sanctions affecting Russia’s oil production, the production decisions of OPEC (Organization of the Petroleum Exporting Countries), and the rate at which US producers increase drilling. Due to these variabilities, the EIA continues to […]
The number of total active drilling rigs in the US and Canada increased this week, according to data from oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand. The […]
The number of total active drilling rigs in the US increased again this week, while Canadian rigs decreased after multiple weekly increases, according to data from oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of oil […]
The Energy Information Administration’s June Short-Term Energy Outlook (STEO) remains subject to a high level of uncertainty due to factors such as sanctions affecting Russia’s oil production, the production decisions of OPEC (Organization of the Petroleum Exporting Countries), and the rate at which US producers increase drilling. Due to these uncertainties, the EIA continues to […]
The number of total active drilling rigs in the US remained steady this week, while Canadian rigs increased, according to data from oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) […]
The number of total active drilling rigs in the US rose again this week, while Canadian rigs remained flat, according to data from oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of oil country tubular […]
The number of total active drilling rigs in the US rose again this week, while Canadian rigs continued their seasonal decline, according to data from oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of oil […]
The number of total active drilling rigs in the US rose again this week, while Canadian rigs declined, according to data from oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of oil country tubular goods […]
Total active drilling rigs in the US increased this week, while Canadian rigs declined further, according to recent data released by oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) […]
The number of active oil and gas drill rigs in the U.S. increased this week, while Canadian rigs declined, according to recent data released by oilfield services company Baker Hughes. The active drill rig count is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand. The […]
The number of active oil and gas drill rigs in the U.S. and Canada was flat or fell this week after gains in prior weeks, according to recent data released by oilfield services company Baker Hughes. The active drill rig count is important to the steel industry because it is a leading indicator of oil […]
The number of active oil and gas drill rigs continues to recover in both the U.S. and Canada, according to recent data released by oilfield services company Baker Hughes. The active drill rig count is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand. The number […]
The number of active oil and gas drill rigs continued to recover in both the U.S. and Canada this past week, according to data released Friday by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand. The […]
I don’t want to lead prices down, but I don’t think it’s any secret at this point that sheet prices are falling fast. “The prophecies have been borne out,” is how one mill executive put it. What does that look like in practical terms? Some mills are offering hot-rolled coil at about $1,200 per ton […]
The ongoing correction in steel prices is not a reflection of demand, which is strong now and is expected to remain so for the balance of 2022, Steel Dynamics Inc. (SDI) executives said. Hot-rolled coil prices are roughly in line with published price ranges of $1,300-1,400 per ton ($65-70 per cwt), although a limited number […]
Reflecting higher energy prices, the number of active oil and gas drill rigs increased in both the U.S. and Canada this past week, according to data released Friday by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) […]
The number of active oil and gas drill rigs increased in both the U.S. and Canada this past week, according to data released Friday by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand. The number of […]
Steel prices declined for the fourth consecutive month in December, following a year-long streak of continuous price increases. Hot-rolled coil prices declined $130 per ton throughout the month, with the SMU index averaging $1,600 per ton ($80.00 per cwt) as of Tuesday, Dec. 21 (SMU did not published updated prices on Dec. 28). The SMU Price Momentum […]
The number of active oil and gas drill rigs was unchanged in the U.S. this past week, while the Canadian rig count increased, according to data released Friday by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand. The […]
Steel prices declined for the third consecutive month in November, following a 12-month streak of continuous price increases. Hot-rolled coil prices declined $105 per ton throughout the month, with the SMU index averaging $1,770 per ton ($88.50 per cwt) as of Tuesday, Nov. 30. The SMU Price Momentum Indicator for hot-rolled coil was adjusted from Neutral […]
Sheet and plate prices are nearing parity for the first time in about a year, the latest sign of a market in flux. Below is a good way to visualize that trend. The chart below maps out the spread between sheet and plate going back to 2017. If we rewind to mid-November of last […]