OEUK estimates only nine exploration and appraisal wells be drilled this year, down from around 60 in 2010.

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US steel import permit applications for the month of October totaled 2,298,000 net tons (NT)*.

U.S. imported a total of 2,237,000 net tons (NT) of steel in September 2022.

U.S. imported a total of 2,237,000 net tons (NT) of steel in September 2022.

Semiconductor shortages, as well as other logistical issues, have roiled automotive production in the US and around the globe since 2021. Lower automotive production rates have subsequently cut demand for steel in the sector.

“As a nation are very clear and very respectful of our treaties and our agreements,” Hernando said.