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20 Jun

US OCTG pricing holds steady while rigs decline

OCTG pricing is flat in the US this week while the rig count continues to decline, Kallanish hears from market participants. Prices for domestically produced welded P110 5.5-inch casing remain within a range of $1,600-1,800/short ton. The number of active rigs in the US slid to 590 as of 14 June, down from 594 the week before and 97 less than the equivalent week of 2023, according to Baker-Hughes (see Kallanish 14 June). OCTG casing demand is waning accordin…
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