US drillers cut oil rigs with crude price decline
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London
US ENERGY firms cut oil rigs for a second week in a row, data showed on Friday, a sign the latest price declines may be causing some drillers to put on hold their recently announced plans to return to the well pad.
Drillers removed 10 rigs in the week ended Sept 11 and 13 rigs in the week ended Sept 4, bringing the total rig count down to 652, after adding rigs in six of the past eight weeks, oil services company Baker Hughes Inc said in its closely followed report. That was the biggest two-week decline since early May.
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