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U.S. drillers cut most oil rigs in a month since 2015 -Baker Hughes

U.S. energy firms cut the most oil rigs in a month in April since 2015 with oil prices down over 70% since the start of the year as steps to curb the coronavirus pandemic cut global crude demand faster than producers can shut wells, causing storage tanks to fill rapidly.

Drillers cut 60 oil rigs in the week to April 24, bringing the total count down to 378,

U.S. drillers cut most oil rigs in a month since 2015 -Baker Hughes