US oil drillers cut rigs despite price recovery: Baker Hughes

New York

US oil drillers cut rigs for a ninth week in the last 10, energy services company Baker Hughes Inc said on Friday, even as crude prices last week tested a seven-month high at US$50 a barrel.

Prices were on track to recover for seven out of the last eight weeks, and are now at the high end of a level that analysts and producers had said could soon trigger a return to the well pad.