Boom time comes early to West Texas oil patch

A pump jack lifts oil out of a well, during a sandstorm in Midland, Texas, U.S., April 13, 2018. Picture taken April 13, 2018. REUTERS/Ann Saphir

This parched patch of land, under which lie the largest oil-producing rock formations in the United States, is used to growth binges as well as the busts that always follow.

After a two-year crash, the price of crude CLc1 began to recover in 2016 and pierced $60 a barrel early this year. But oil is still far cheaper than at the peak of the previous eight-year boom that began in 2006 North Dakota’s Bakken oil patch and supercharged the city of Williston.

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