The just-announced OPEC production cuts play to the strength of the U.S. shale fracking industry, The American Interest says:
"Don’t look now, but an American shale rebound is already underway. Operators have been steadily putting more oil rigs into operation for months now, and we’ve been seeing signs that the industry has been ready to stop a slide in output and start ramping up total U.S. production for months now.
" ... the collapse in crude prices didn’t destroy America’s shale operators, it instead culled the herd."
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