Oil prices are up 50% since February when they hit their lowest price in more than a decade, but most U.S. energy producers aren’t buying the bounce. The rise in drilling activity that usually follows increases in oil prices hasn’t yet materialized this year. The number of rigs drilling for oil has continued to decline. They fell to 351 on Friday, which is down a third from the start of the year, according to oil-field services firm Baker Hughes Inc. BHI 1.44 % Leaders of the Organization of the Petroleum Exporting Countries and other major oil producing nations are meeting this weekend in Doha, Qatar, to discuss a possible production freeze, a move that could give oil prices another boost. But oil and gas executives meeting in New York this week for an industry conference sounded a note of caution. “It was very evident that costs and a focus […]