Active rig counts fall further in US, rise in Canada
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.
Tag: Oil
US active rig counts fall further while Canada rises
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.
Active rig counts update: US eases while Canada rises
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.
June energy market update
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
Active rig count update: US down, Canada up
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.
Active rig count update: US flat, Canada rises
S drill rig activity held steady last week, remaining near two-year lows according to the latest update from Baker Hughes
CBP finds Chinese OCTG being transshipped via Thailand
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.
Will China tariffs have desired effect?
The Biden administration recently announced tariffs on several products from China, including steel and aluminum. There has been much rejoicing over this move and there has been a great deal of support from the steel industry.
Rig count update: US activity dips to a two-year low
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
Active rig count update through mid-May
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.
Mexico’s TYASA breaks ground on SBQ rolling mill
Mexican steelmaker Talleres y Aceros (TYASA) broke ground this month on the construction of a new special bar quality (SBQ) rolling mill in the state of Veracruz.
Canada considers standard pipe duties in expiry review
The Canada Border Services Agency (CBSA) has completed its portion of an expiry review of the antidumping duty orders on welded standard pipe from Pakistan, the Philippines, Turkey, and Vietnam.
May energy market update
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
Stelco reports solid Q1, plans to up value-added output
Stelco reported a positive start to 2024 in its first-quarter earnings report on Thursday. And with steady demand and a stable market, the Canadian flat-rolled steelmaker is optimistic for the remainder of the year.
UAW authorizes strike action at Stellantis' Warren Stamping Plant
United Auto Workers (UAW) members at Stellantis' Warren Stamping Plant in Michigan have voted to authorize a strike at the factory.
Active rig counts mixed entering May
Drilling activity declined in the US but increased in Canada, according to the latest data from Baker Hughes.
UAW considers strike at Stellantis plant over health, safety issues
United Auto Workers (UAW) members at a Stellantis plant in Michigan have health and safety grievances so severe they are considering going on strike.
Active rig counts slip in US and Canada
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.
Active rig count rises in US, falls in Canada
Drilling activity increased in the US but declined in Canada, according to the latest data from Baker Hughes.
April energy market update
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
Questioning long-held scrap price ‘realities’
Does the price of ferrous scrap depend on the price of finished steel product? And how much of an influence do billet and slab prices have on scrap prices?
Rig count falls in US, rises in Canada
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 reports no impact on production from fire at Pueblo mill
Evraz North America said there was no impact on production from a fire that broke out at its Pueblo., Colo., steel mill on Friday.
Rig counts decline again in US and Canada
The number of active rigs in the US eased to a nine-week low, while Canadian activity continued it’s seasonal wind down.
February construction spending steady, shows solid y/y improvement
US construction spending in February was mostly steady from January but showed significant gains from last year.
Rig counts move lower again in US, Canada
Oil and gas drilling activity in North America slowed this week, according to the latest figures from Baker Hughes.
Rig count pulls back in US and in Canada
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.
Active US rig count rebounds to 5-month high, Canada falls
Rig counts in the US and Canada were mixed this week, according to the latest data from Baker Hughes.
March energy market update
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
Final Thoughts
Reaction to the price announcements last week by domestic mills varied just a little depending on who you were speaking to. I heard rumblings before the announcements that a price hike of $100 per short ton (st) was coming. After the announcements were made, I had some questions as to whether they were increases at all.