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Sunday, 1 January 2017

Signs of recovery adding up for US oil sector | The National

Signs of recovery adding up for US oil sector | The National:
"The US oil sector is showing further signs of recovery from the depths reached early last year, particularly in west Texas.

Rig counts are up, job postings in the sector have risen by half and productivity continues to improve. Together these factors suggest that a quick bounceback in the US sector could put a cap on gains in the oil price, undoing some of the gains made in the wake of Opec’s initiative to restrain output.


In its latest report, the oil services company Baker Hughes said late last week that US oil rigs in use were up another five in the latest week at 658."

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