Rigs targeting oil in the U.S. fell by the most in two months as producers curbed drilling following the biggest price rout since 2012. Oil rigs tumbled by 19 to 1,590, the lowest in six weeks and the biggest decline since Aug. 22, Baker Hughes Inc. (BHI) said today. The counts dropped in almost every major U.S. oil play, with the Mississippian in Kansas falling the most, shrinking by seven to 71. Texas ’s Eagle Ford formation, where drillers are yielding more crude per rig than any other region, lost five to 197. U.S. benchmark West Texas Intermediate crude fell more than $14 a barrel in the three months ended Sept. 30, the biggest quarterly drop since June 2012. The slide threatens to slow a drilling boom in U.S. shale formations that has propelled domestic output to the highest level in 29 years, cut retail gasoline prices by more […]