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Seventy percent of future oil developments are commercially viable with Brent crude at USD 60 per barrel, up from 50 percent a year ago, natural resources consultancy Wood Mackenzie said on Wednesday.

The collapse in energy prices in 2014 and 2015 left many oil projects commercially unviable. However, two years on the energy industry has started to adapt.

Both Brent and WTI crude oil are currently trading below USD 50 per barrel.

A total of 13 million barrels per day (b/d) of new oil supply could be developed by 2025, of which nine million would be commercially viable with Brent at USD 60, Wood Mackenzie said.

"This is more than at any point since 2009 and 1.5 million b/d more than a year ago. Most of the nine million barrels per day is US tight oil, with productivity improvements and cost deflation in the key growth plays making more tight oil economically viable," Wood Mackenzie said in a report.

It said "big winners" from this were incumbent operators in the US's mid-continent and Permian Basin oil fields, including Continental, Apache, ExxonMobil and Chevron.

The consultancy warned though that many conventional oil projects were at risk of deferral or cancellation if prices remained at around USD 50 per barrel.