The U.S. oil-rig count fell by 24 to 679 in the latest week, the lowest level since September 2010, according to Baker Hughes Inc. 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 58% fewer rigs compared with a peak of 1,609 in October, and Friday’s report marks the 21st straight week of declines, boosting expectations U.S. crude-oil production is near a peak. Ahead of the release, energy-advisory firm Ritterbusch & Associates speculated a drop of fewer than 15 to 20 rigs could push oil prices lower, while a drop of more than 30 to 35 might have the opposite effect. U.S. oil prices hit 2015 highs recently on hopes production is finally showing signs of falling. U.S. crude-oil futures were recently down 1.9% at $58.50. According to Baker Hughes, […]