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Oil Drillers Cut U.S. Rig Fleet in Aftermath of OPEC Moves

  • Global supply disruptions elevated crude prices this week
  • U.S. crude output has been at a record for two straight weeks
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Petrie Sees 'Eroding' WTI -Brent Crude Spread
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Crude explorers scaled back drilling in U.S. oil fields by the most in three months after the world’s top exporters agreed to raise production.

U.S. working oil rigs fell by four this week to 858, according to data from Baker Hughes. It was the second straight weekly decline and the largest drop since March.