Oil market recovery drives more US drilling

By William Clarke
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...

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