NYMEX crude futures have risen above the $30/b level that represents breakeven for many US upstream operators, which could result in some restoration of shut-in wells soon as the economic scourge of the global coronavirus pandemic begins to subside. Front-month crude futures have only been trading above $30/b for the past six trading days, since May 18. However, NYMEX crude contracts out along the curve have been holding there for longer. The December contract, for instance, briefly dipped below $30/b in late April, but has since risen to trade above $36/b Tuesday. If crude stabilizes in the $30s/b, producers should be able to not only bring back selected wells they deem economic […]