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Expand chart
Data: Federal Reserve Bank of Dallas; Chart: Danielle Alberti/Axios

The Dallas Fed is out with its latest quarterly snapshot of oil-and-gas metrics in its district, which includes the prolific but pandemic-battered shale regions in Texas and New Mexico.

Why it matters: The survey of oil-and-gas companies and contractors finds that the sector's activity "expanded strongly" in the first quarter of 2021.

"With the recent recovery in oil prices, the majority of firms in the survey can profitably drill a new well at current prices," it notes in discussing the chart you see above.

Yes, but: Via Reuters coverage of the report...

"While improved oil prices have boosted expectations for 2021, executives are cautious about the potential for Biden administration oil and gas policy changes or the threat that the Organization of the Petroleum Exporting Countries and partners could easily return oil to the global market."

What we're watching: Jobs. Last year's price and production declines led to significant layoffs.

53% of executives surveyed said they expect their employee count next December to be unchanged from December of 2020, while 39% expect some increase.

Go deeper

1 hour ago - World

Scoop: U.S. and Israel to hold strategic Iran talks on Tuesday

Jake Sullivan. Photo: Jim Lo Scalzo/EPA/Bloomberg via Getty

Top national security officials from the U.S. and Israel will convene virtually on Tuesday for a second round of strategic talks on Iran, three Israeli officials tell me.

Why it matters: The talks come two days after an explosion at an Iranian nuclear facility that experts consider a likely act of Israeli sabotage, and one day before the U.S. resumes indirect nuclear talks in Vienna over a return to the 2015 nuclear deal — a prospect that has raised anxiety levels in Jerusalem.

Updated 1 hour ago - Axios Twin Cities

Police: Officer who shot Daunte Wright accidentally pulled gun instead of taser

The officer who fatally shot Daunte Wright, a 20-year-old Black man, outside Minneapolis Sunday appeared to have inadvertently pulled out her gun instead of a taser, police said.

Driving the news: "This appears to me, from what I viewed in the officer's reaction and distress immediately after, that this was an accidental discharge that resulted in the tragic death of Mr. Wright," Brooklyn Center Police Chief Tim Gannon told reporters Monday.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: The warning signs of a longer pandemic — CDC director: Answer to Michigan COVID-19 surge is "to close things down."
  2. Vaccines: Former FDA chief offers reality check on vaccine passports.
  3. Economy: Jobs growth could be curbed by demands for higher wages.
  4. World: Facebook to push notifications about vaccine eligibility to 20 countries outside of the U.S. — Brits flock to pubs for first time in months as U.K. lockdown eases.
  5. Variant tracker: Where different strains are spreading.