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US oil sector sees tentative recovery

Some low-cost drilling basins are picking up

Sentiment got a boost from the Nov 30 agreement by Opec to cut production to address a supply glut.

New York

THE US oil industry is feeling guarded optimism going into 2017 as it pivots from a brutal two-year slump prompted by crashing crude prices.

As the new year kicks off, industry insiders describe a tentative recovery, with some low-cost drilling basins starting to pick up...