With few prospects for a recovery in the crude oil market, rig services company Weatherford said it was making deeper cuts in its North American portfolio. “Market conditions will not improve significantly in the balance of the year,” Weatherford President and Chief Executive Officer Bernard Duroc-Danner, said in a statement. “There will be modest activity increases in North America and selected international geographies but these will not be material.” Weatherford, which has headquarters in Switzerland, joins peer companies Baker Hughes and Halliburton in announcing downbeat expectations for the trajectory in crude oil markets. West Texas Intermediate, the U.S. benchmark for crude oil, traded Friday at around $48.60 per barrel, down about 18 percent from July 1 and more than 50 percent below June […]