Abstract: Global oil price stabled at60 per barrel by the end of 2017 and continued to rise in the first quarter of 2018.The global energy market has recovered from a 2-year suppression,and the global steel tube industry has also welcomed a new growth.Analyzed in the paper are the production and operation of the two big steel tube groups,Tenaris and Vallourec,in 2017,focusing on their sales volume,profitability,market distribution,balance sheet and solvency etc.It is concluded that the performances of both groups have rebound significantly in 2017.Although Vallourec is still lossing money,its EBITDA has turned positive.OCTG products have been a major propelling power in this round of upgoing,in which the North American market has played an important roll.Both groups hold fundamentally optimistic expectations for the market in 2018.