The U.S. oil-rig count fell by eight to 392 in the latest week, according to Baker Hughes Inc., reaching levels last seen in late 2009. The number of U.S. oil-drilling rigs, viewed as a proxy for activity in the oil industry, has fallen sharply since oil prices began to fall. The latest total of 392 active oil rigs marks the first time it has fallen below 400 since late 2009. There are now about 69% fewer rigs of all kinds from a peak of 1,609 in October 2014. According to Baker Hughes, the number of U.S. gas rigs dropped in the latest week by five to 97, a fall to levels unheard of in Baker Hughes’ current format, which dates back to 1987. The U.S. offshore-rig count was 24 in the latest week, down three rigs from last week and down 27 rigs from a year ago. In total, […]