Economics

Shale Drillers Idle Rigs From Texas to Utah Amid Oil Rout

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The shale-oil drilling boom in the U.S. is showing early signs of cracking.

Rigs targeting oil sank by 14 to 1,568 this week, the lowest since Aug. 22, Baker Hughes Inc. said yesterday. The Eagle Ford shale formation in south Texas lost the most, dropping nine to 197. The nation’s oil rig count is down from a peak of 1,609 on Oct. 10.