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Story summary
- In Q1 2026, oil and gas activity rose nationwide, led by Texas, Louisiana, and New Mexico, per the Federal Reserve Bank of Dallas (Dallas Fed) survey.
- Oil prices are around $90 per barrel, reflecting producers' hesitation to drill amid Iran-related uncertainty.
- West Texas Intermediate (WTI) crude is expected to average $74 per barrel by year-end 2026.
- The Dallas Fed survey notes rising costs, a production increase, and stable employment.
