THE LINE PIPE MARKET

摘要

While we understand that this sectionof the line pipe market is more than justgathering activity, we can’t help but think abouthow the low level of well completion activitywill affect this market. Our Well CompletionReport - see the summary table in the OCTGsection - has fallen from about 1,515completions in January to 1,193 for Februaryto a similar number for March. Demand isfalling and supply is increasing. Call it whatyou want - seasonal build, buying after themarket price bottomed, or hard-to-find-anexplanation(which is the option we pick) - it isnot a good thing for the product sector.