War in Ukraine affects steel goods exports from both Ukraine and Russia. Shortage of steel tubing for wells has become the latest production constraint for U.S. shale. For U.S. oil drillers, steel tubing prices and scarcity is one more thing to worry about on top of rising oilfield services costs. U.S. shale oil drillers are complaining of a shortage of steel tubing for wells, which is contributing to stagnation in production. In a Friday report, Bloomberg cited data from KeyBanc Capital Markets, which showed that the price for pipes used in the oil industry—oil-country tubular goods—had shot up to $2,400 per ton in March. This was a 100-percent increase on the year the report noted and was driven by concern that the war in Ukraine would affect steel goods exports from both Ukraine and Russia. “I cannot think of a time prior to this that I’ve seen the market […]