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STEEL TUBE & PIPE CONFERENCE: 6 things learned in Houston- The 20th China (Guangzhou ) Int’l tube & pipe Processing Equipment Exhibition
3/26/2019 管材展-鋼管展-steel tube expo-tube &pipe expo |
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On Wednesday March 20 and Thursday March 21, Fastmarkets AMM hosted its 12th Steel Tube & Pipe Conference in Houston. Our reporters summarize six key takeaways from the event.
1. DUCs crowd the pond. A much-discussed concern on the minds of the 200-plus conference attendees was the uncertain impact of the soaring number of drilled-but-uncompleted (DUC) wells in the Permian Basin - and the point at which the accumulation becomes excessive. Steel market participants anticipate an inflection point after which that trend will reverse, with oil-and-gas producers preferring to complete wells rather than drilling new ones. The trouble is, nobody is really sure when that will happen. From the standpoint of oil country tubular goods (OCTG) providers, the thirst for drilling has been bullish for casing demand in 2018-19. When the pendulum swings toward completions, OCTG demand shifts to tubing. Texas distributors said tubing inventories were starting to pile up in anticipation of that shift. Indeed, with each successive conference session and coffee-break conversation, distributors seemed to adjust their industry-wide OCTG inventory estimates from two to three months up to more like three
管材展-鋼管展-2019廣州國際管材及管材加工設備展－中國展出效果最好的管材展-巨浪展覽
- The 20th China (Guangzhou ) Int’l tube & pipe Processing Equipment Exhibition
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