US energy firms cut rigs for first time in eight weeks, Baker Hughes says

U.S. energy firms cut the number of operating rigs for the first time in eight weeks, according to Baker Hughes. The report is a routine but closely watched indicator for future U.S. oil and gas supply, though the article provides no magnitude beyond the weekly reversal.

Analysis

U.S. energy firms cut the number of operating rigs for the first time in eight weeks, according to Baker Hughes. The report is a routine but closely watched indicator for future U.S. oil and gas supply, though the article provides no magnitude beyond the weekly reversal.