U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row as producers cut spending on new drilling, even though most are still increasing output as they benefit from efficiency gains. Drillers cut seven oil rigs in the week to Nov. 8, bringing the total count down to 684, the lowest since April 2017, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. RIG-OL-USA-BHI In the same week a year ago, there were 886 active rigs. The oil rig count, an early indicator of future output, has declined for a record 11 months in a row as ... (full story)