U.S. Natural Gas Drilling Collapses At Fastest Fastest Pace Since 2016 ...Middle East

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U.S. Natural Gas Drilling Collapses At Fastest Fastest Pace Since 2016
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According to a new report from Baker Hughes Co., the US natural gas sector is rapidly pulling drilling rigs from the field due to oversupply conditions that have led to a collapse in natural gas prices over a nine-month period.  Baker Hughes reported Friday that exploration companies reduced rigs by 16 to 141 this week. This is the most significant weekly decline since February 2016.  Nabors Industries Ltd., one of the top providers of rigs to shale drillers, warned last month about the fall in rig orders. The rig provider expects a 9%…

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