U.S. drillers cut oil & gas rigs to historic low -Baker Hughes

The number of operating oil and natural gas rigs fell to an all-time low – reflecting data going back 80 years – as the energy industry slashes output and spending to deal with the coronavirus-led crash in fuel demand.

The rig count, an early indicator of future output, fell by 34 to a record low of 374 in the week to May 8, according to data on Friday from energy services firm Baker Hughes Co (BKR.N) going

U.S. drillers cut oil & gas rigs to historic low -Baker Hughes