Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

Change font size:   

March 2020 | Seamless Steel Tube & Pipe


Cutting the tap: Coronavirus and oil price war set to trigger updates to our US OCTG consumption forecasts


Fastmarkets’ first-quarter forecast of annual 2020 OCTG consumption appears to be too ambitious - given the rapidly changing situation regarding the spread of the coronavirus and the economic effects of extended closures, as well as the Saudi Arabia/Russia oil price war.

Fastmarkets’ first-quarter forecast of annual OCTG consumption appears to be too ambitious - given the rapidly changing situation regarding the spread of the coronavirus and the economic effects of extended closures, as well as the Saudi Arabia/Russia oil price war. 

We are continually monitoring the situation and will issue an updated consumption forecast for the global markets on schedule in late-April/early May. By that time, we hope there will be some clarity in the extent of the potential economic damage from the Covid-19 outbreak as well as an end to the oil price war. 

In the meantime, we are reviewing our US forecast since the country is a major oil producer and OCTG consumer, offering thoughts and assumptions as to how the next forecast might change. This might help bring some clarity to those planning in the interim. 

In our first-quarter forecast for US OCTG...

ACCESS RESTRICTED

To read the rest of this analysis please take a free sample or subscribe


FREE Sample


Receive a free sample of  market analysis and price forecasts.

Free Sample

SUBSCRIBE


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.

Subscribe


Already subscribed?