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US rig decline worst since 1991

THE US recorded the highest number of idle rigs in a single week since 1991 last week, as the tumbling oil price continues to menace the industry.

Andrew Snelling
US rig decline worst since 1991

According to Bloomberg 35 horizontal rigs used for US unconventional plays were idled, accounting for more than half of the total 61 rigs which stopped production and signalling the seventh consecutive...

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