From January to February, the number of rigs working on exploration and production activities in the United States dropped 18 percent, Baker Hughes reported. The oil field services company issued its February report on average rig count activity Monday. The report found 532 rigs actively exploring for or producing oil and natural gas in the United States in February, down from the 654 in service the previous month. Most energy companies have cut back spending in exploration and production for the year as a result of the downturn in crude oil prices. The price for Brent crude oil, the global benchmark, dropped 10.5 percent from the first trading day of […]