Sudden rebound in U.S. oil rigs despite sub-$60 crude shows how resilience U.S. shale has become amid increasing competition. For the first time in almost seven months, America’s shale drillers put rigs in oil fields back to work, and they’re doing it at a lower price. The last time they added rigs, crude futures were trading near $70 a barrel. Today, even after a rebound, they’re under $60. And yet drilling rigs rose in almost every major oil basin in the country this week, raising the total by 12, according to field-services company Baker Hughes Inc. The sudden rebound in the U.S. oil rig count is a testament to how resilient U.S. shale has become as it battles against OPEC for market share. Spurred by last year’s collapse in prices, shale explorers have been able to bring down their breakeven costs by $15 to $20 a barrel, a Bloomberg […]