The number of U.S. oil rigs out drilling new wells fell for the 13th straight week as the U.S. sinks deeper in a glut of excess oil. Drillers idled 64 oil rigs (excluding gas rigs), dropping the number to 922, Baker Hughes reported on Friday. The rig count is down 43 percent since October, an unprecedented retreat. The median forecast from a Bloomberg survey of 20 #RigCountGuesses on Twitter was for a decline of 20 rigs. Every week since 1944, oilfield-services company Baker Hughes has released a survey of rigs out drilling for oil. But it wasn’t until oil prices dropped by more than half that “rig counts” became a popular metric for oil watchers. Rigs are used to explore for new deposits and to drill new wells, but fewer rigs don’t always mean less production. The U.S. is currently pumping oil faster than at any time since 1972. Bloomberg recently […]