US onshore producers have been adding rigs back for months before the latest Opec decision as prices flirted with $50 per barrel.
Consultancy Wood Mackenzie estimated onshore producers would boost their rig count by 50 to 100 units in the coming year and with stronger prices that could double, said RT Dukes, research director at Wood Mackenzie.
However, even with Opec support, prices have not yet reached the $55 to $60 level that is seen as necessary to support a significant increase in drilling, especially in plays outside the Permian basin.
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