Skip to content
Subscriber Only

U.S. Drillers Need $60 Oil to Stage Real Comeback, IEA Say

  • Number of active rigs 75 percent below October 2014 peak
  • IEA reiterates view U.S. shale oil output to fall this year
Video player cover image

Global Oil Markets Will Continue to Re-Balance This Year

While shale drilling in the U.S. is on the rise again, prices need to climb nearer to $60 a barrel for U.S. producers to have a “substantial” boost in activity, the International Energy Agency said.

Producers remain “cautious on outlook,” and further drilling increases this year may be “limited,” the IEA said in its monthly report.