U.S. oil drillers cut rigs to lowest level in 10 monthsStaff Writer | March 8, 2019
U.S. energy firms this week cut the number of oil rigs operating for a third week in a row to the lowest level in 10 months.
America Drillers cut nine oil rigs in the week to March 8
The U.S. rig count, an early indicator of future output, is higher than a year ago when 796 rigs were active after energy companies boosted spending in 2018 to capture higher prices that year. ■