The U.S. oil boom has time and again proven very hard to kill.
Despite OPEC’s strategy of flooding the oversupplied market with tons of crude, American oil production has not fallen off a cliff. And now that prices have rallied back to $50 a barrel, there are early signs that U.S. shale is on the rebound, too.
Just look at how the closely-watched Baker Hughes oil rig count has stopped collapsing — and started rising. The tally rose last week for the third-straight week, the longest streak since last August.
