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UPDATE 1-U.S. drillers cut most oil rigs in a quarter in three years -Baker Hughes

UPDATE 1-U.S. drillers cut most oil rigs in a quarter in three years -Baker HughesU.S. energy firms this week reduced the number of oil rigs operating to their lowest in nearly a year, cutting the most rigs in a quarter in three years despite a 30 percent hike in crude prices so far in 2019. Drillers cut eight oil rigs in the week to March 29, bringing the total count down to 816, the lowest since April 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. More than half the total U.S. oil rigs are in the Permian basin, the nation's biggest shale field, where active units fell by five this week to 454, also the lowest since April 2018.




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