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U.S. drillers cut oil rigs for first week in four

U.S. energy firms reduced the number of oil rigs operating for the first time in four weeks as some companies expect output growth from shale formations to slow as producers cut spending on new drilling for a second consecutive year in 2020.Drillers cut 1 oil rig in the week to Feb. 28, bringing the total count down to 678, energy services firm Baker Hughes Co said in its closely followed report on Friday.

U.S. drillers cut oil rigs for first week in four