For Shale Drillers, Rising Oil Prices Also Come With Rising Costs

The price of crude is hovering just below $55 a barrel—the level many energy companies said they needed to make a profit—and that is setting off a race to drill again. Producers boosted U.S. oil output to nearly 9 million barrels a day, pumping an extra 500,000 barrels a day in the past three months. The additional American production is more than the volume that Saudi Arabia committed to stop producing to help shore up global crude prices.

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