$GUSH $XOP (Reuters) - U.S. energy firms reduced the number of oil rigs operating for a record 12th month in a row after this week cutting rigs for a sixth consecutive week as producers slash spending on new drilling. Drillers cut three oil rigs in the week to Nov. 27, bringing the total count down to 668, the lowest since April 2017, energy services firm Baker Hughes Co said on Wednesday in a report released two days early due to the U.S. Thanksgiving holiday. In the same week a year ago, there were 887 active rigs.
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