Natural Gas Rig Count Average News

US Oil Drillers Cut Rigs to Least in 6 Years

U.S. energy firms this week cut oil rigs for an eighth week in a row to the lowest levels since January 2010, data showed on Friday, as energy firms continue to cut spending due to the collapse in crude prices. Some analysts forecast the rig count will decline for a few more months before recovering later this year when they expect crude price to rise. Drillers removed 28 oil rigs in the week ended Feb. 12, bringing the total rig count down to 439, oil services company Baker Hughes Inc said in its closely followed report. That compares with 1,056 oil rigs operating in same week a year ago. Front-month U.S. West Texas Intermediate (WTI)…