Thursday, March 24, 2016

U.S. drillers cut rigs for 14th week in a row -Baker Hughes

March 24 (Reuters) - U.S. energy firms this week cut oil and natural gas rigs for a 14th week in a row to the lowest level since at least 1940, data showed on Thursday, as energy firms continue to slash spending as part of the deepest energy price rout in a generation. Oil rigs alone fell 15 to 372, the lowest level since November 2009, oil services company Baker Hughes Inc said in its closely followed report. Looking forward however, analysts forecast the rig count will bottom in a cou











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