U.S. oil drillers cut rigs to lowest level in 10 monthsStaff Writer |
America Drillers cut nine oil rigs in the week to March 8
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.
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. ■
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