Vallourec - comment

The recent Dallas Fed Energy Survey points to more difficulties for OIL & Gas drillers in the US, as inflationary pressure, shortage of equipment and lack of skilled workers all add up to problems in the US energy sector, just as the world expects US to pick up the global slack. In relation to Vallourec, who have seen margins improve which is reflected in the shortage of equipment, the anonymous comments from oil executives highlight many concerns in the industry about future demand are causes for concern.