Preston’s forecast at our Summit and in the November 2022 Pipe Tube Report was for an average rig count in 2023 of 775 and OCTG consumption of about 5.6 million tons. Based on recent well completion data, the upward trend of consumption per rig is a bit steeper than we forecast at the time. We are sticking with the 775 rig count at this point but expect OCTG consumption to be closer to 5.8 million tons.
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