Watch U.S. Oil Drilling Collapse—and Rise Again

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According to Bloomberg, the boom looks like it’s back. The number of oil and gas rigs drilling in the U.S. has almost doubled since bottoming out at the lowest level in more than 75 years of records. The animation below shows the collapse of America’s energy boom beginning in 2015—and its subsequent resurrection beginning last May.

While two dozen nations are coordinating to cut oil production and rein in the global supply glut, U.S. producers are moving in the opposite direction. Over the last four months, output increased by half a million barrels a day. If that rate of expansion continues, the shale boom will break new production records by summer.

Watch U.S. Oil Drilling Collapse—and Rise Again https://www.bloomberg.com/graphics/2017-oil-rigs/

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