Energy companies reduced the number of rigs drilling for oil in the United States to a fresh three-month low, shifting more rigs in favor of natural gas as crude prices dive and gas prices soar, data showed on Friday. The number of rigs drilling for oil fell by 14 to 1,568 in the latest week, down for five out of the past seven weeks, according to data from oil services firm Baker Hughes on Friday. A year ago, there were 1,383 rigs drilling for oil. Gas rigs meanwhile rose by 10, up for a fourth week in a row, to 356 rigs, the highest in 10 months, the Baker Hughes data show. A year ago, there were 365 rigs drilling for gas. Analysts however said a few weeks of less oil and more gas rigs does not make a pattern. “The recent rise […]