3Q19 OCTG Inventories: A Turn for the Better
When it comes to diagnosing the health of the oil patch there’s no greater panacea than robust drilling activity, but a significant drop in OCTG inventories is always a shot in the arm for the supply chain. Thus, the results of our exclusive Quarterly Inventory Yard Survey can be viewed as a welcome relief. In 3Q19 (period ending 9/30/19) “prime” US upstream OCTG inventories in the lower 48 contracted significantly. Details can be found in this month’s OCTG Situation Report.