U.S. oil drillers cut most rigs since May 2016Staff Writer | December 7, 2018
U.S. drillers this week cut oil rigs by the most in over two year even.
America More than half the total U.S. oil rigs are in the Permian Basin
More than half the total U.S. oil rigs are in the Permian Basin, the country’s biggest shale oil formation. Active units there declined by four this week to their lowest since early November. ■