U.S. energy firms this week cut the oil rig count to the lowest since February 2018 as drillers follow through on plans to reduce spending with crude prices collapsing to a four-month low. Drillers cut 11 oil rigs in the week to June 7 in the biggest weekly decline since April, bringing the total count down to 789, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. Graphic on U.S. rig counts: here U.S./Canada natural gas rig count versus Henry Hub futures price: tmsnrt.rs/2eT9k44 Shale oil breakevens: tmsnrt.rs/2fO4b17 That compares with 862 rigs operating during the same week a year ago. More than half the total U.S. oil rigs are in the Permian basin in West […]