Canada's Oil Rebound Elusive as Rig Count Drops to Record Low

  • Only 37, or 6%, of the country's 671 rigs are currently in use
  • Companies keep `cutting and really there's no more to cut'

Rig activity in Canada’s oil fields has reached a record low, weekly industry data show, a sign that rebounding prices have yet to put an end to the industry’s woes.

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