Oil market recovery drives more US drilling
Published: Tuesday, 09 February 2021
The rate of oilfield activity in the United States continues to rise, with the markets recovering from the sharp decline in prices resulting from the Covid-19 pandemic.
The price of the benchmark West Texas Intermediate crude oil
was nearly $58 per barrel in early February 2021, the highest
in more than a year.
This marked a full recovery from the sharp oil price slump
of 2020, which was driven by...