The U.S. continues to lay down rigs drilling for oil
The number of rigs active in the U.S. continued to drop this week as markets continue to balance the oversupply in global oil output. The total number of rigs drilling in the U.S. declined for an eighth straight week as rigs targeting oil continued to come offline, according to the Baker Hughes (ticker: BHI) rig count.

Rigs drilling for oil fell by ten this week, continuing the trend for the seventh week, to a total of 595. The active number of oil rigs is now 63% lower than its year-ago ...

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