Oil advanced from its highest closing level in two months in New York as U.S. drillers cut the number of active rigs to the least in more than six years amid a global glut. Futures rose as much as 2.2 percent in New York and climbed to almost $40 a barrel in London. Rigs targeting oil fell by 8 to 392, declining for an 11th week to the lowest level since December 2009, according to Baker Hughes Inc. Hedge funds unwound bearish bets at the fastest pace in 10 months, U.S. Commodity Futures Trading Commission data showed, as the prospect of prices sinking to $20 receded. Oil on Friday completed a third week of gains, the longest run since May, as U.S. crude production slid to the lowest since November 2014. Still, the nation’s stockpiles are the largest in more than eight decades and still growing. A meeting among […]