U.S. energy firms this week reduced the number of oil rigs operating for a second week in a row as drillers follow through on plans to cut spending this year. Drillers cut four oil rigs in the week to July 12, bringing the total count down to 784, the lowest since February 2018, General Electric Co’s ( GE.N ) Baker Hughes energy services firm said in its closely followed report on Friday. That compares with 863 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 Texas and eastern New Mexico, where active units decreased by six this week to 437, the lowest since March 2018. The Permian is the biggest U.S. shale […]