An oil price of $65 per barrel would add an extra 500,000 barrels of U.S. crude oil to the market by the end of next year, according to a new report by Bloomberg Intelligence. As drillers work through their “fracklogs,” or wells waiting to be fracked, any recovery in oil prices could begin to slow. Bloomberg said the fracklog — 80% of which consists of oil wells — has more than tripled in the past year. Different estimates have pegged the U.S. fracklog at between 3,000 and 4,000 wells.
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