Oil fell for a second day, extending declines from a three-month high, as the number of drill rigs active in the U.S. rose for the first time in three months amid a global glut. Futures slid as much as 2.1 percent in New York after decreasing 1.9 percent Friday. Drillers put one rig back to work last week, marking the first addition since late last year, according to data from Baker Hughes Inc. Ecuador will propose a cut to output at a meeting next month of producers from within and outside OPEC to help boost prices, according to President Rafael Correa. Energy companies led declines on the MSCI Asia Pacific Index. “There is a bit of a correction after the spike above $40 because the market is still oversupplied and demand is sluggish, although it’s better than what it was,” Evan Lucas, a market strategist at IG Ltd. in […]