The U.S. oil-rig count fell by 42 to 760 in the latest week, according to Baker Hughes Inc., a decline that accelerated from recent weeks. The number of U.S. oil drilling rigs—a proxy for activity in the oil industry—has fallen sharply since prices headed south last year. There are now 53% fewer rigs compared with a peak of 1,609 in October. The count has declined for 18 straight weeks and is at a level last seen in December 2010. Oil production in the U.S. has remained resilient, despite the squelched production capacity. U.S crude-oil futures were recently up 2% at $51.79, holding their gains after the data’s release. According to Baker Hughes, gas rigs were down three at 225 this week. The U.S. offshore rig count is at 33, up two from last week […]