Oil prices have rallied lately, but not enough to convince U.S. oil producers that hard times may be over soon.
That’s evident in shale regions like North Dakota that have driven a resurgence in U.S. oil and natural gas production over the last few years.
Lynn Helms, the director of the North Dakota Department of Mineral Resources, told reporters the other day that producers won’t begin to ramp up activity until they see oil prices holding steady at more than $40 a barrel for 90 days or so. (Read more)
