This work helps to explain the drag reduction mechanisms at low and moderate turbulent Reynolds numbers in pipe flows. Through direct numerical simulation, the effects of wall oscillations are observed on the turbulence in both the near wall and the bulk region. Analysis of the average Reynolds Stresses at various phases of the flow is provided along with probability density functions of the fluctuating components of velocity and vorticity. The flow is also visualized to observe, qualitatively, changes in the total and fluctuating field of velocity and vorticity. Linear Stochastic Estimation is used to create a conditional eddy (associated with stress production) in the flow and visualize the effects of transverse wall oscillations on hairpin growth, auto-generation and structure.