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To: Milk who wrote (15)	1/24/1998 12:14:00 AM
From: Mike Kao	Read Replies (1) of 24

Does anyone know how to gauge the demand situation? Demand for OCTG currently appears to be robust, but what is the lag it takes for low crude oil prices to cause E&P companies to cancel new projects, which will cause drillers to cancel equipment orders from distributors, who in turn will cancel orders from OCTG manuacturers? Any industry experts out there?

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