At least one energy market watchdog sees reason for optimism in the offshore drilling industry. Consistently higher oil prices and greater cost-efficiency in offshore projects are driving increased demand for offshore drilling rigs through 2020, particularly for deepwater projects, according to new analysis from IHS Markit. The drop in oil prices that began in 2014 created a deep economic dip for Louisiana and St. Mary Parish in particular. The price of West Texas intermediate crude was over $100 a barrel in June 2014 before plunging to below $30 by December 2015. The price has rebounded to about $70. But the industry’s focus ...