Oil Near ‘Sweet Spot’ Puts 70-Year-Old U.S. Index in Focus

  • Rigs targeting crude gain by most since December: Baker Hughes
  • Evidence machines returning to best acreage: Morgan Stanley
Photographer: Andrey Rudakov/Bloomberg

The oil market is turning its attention back to the U.S. as more of its rigs return to work following a surge to $50 a barrel, raising concern that a production rebound may stifle crude’s recovery.

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