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Oil slump drives US drillers to idle the most rigs in 2 years
With oil at US$60 a barrel, US producers have curbed spending
Published Sun, Dec 14, 2014 · 09:50 PM
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San Francisco
US OIL drillers idled the most rigs in almost two years as they face oil trading below US$60 a barrel and escalating competition from suppliers abroad.
Rigs targeting oil dropped by 29 last week to 1,546, the lowest level since June and the biggest decline since December 2012, Houston-based field services company Baker Hughes Inc said on its website on Thursday.
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