The collapse in US oil rigs might be leveling off

The weekly Baker Hughes oil rig count was released Friday, and for the 28th straight week, the number of active rigs in the US dropped. But those 28 weeks of declines were not equally dismal. From December through early May, the number of active oil rigs dropped by double digits each week, with the biggest decline -- 94 rigs taken out of commission -- coming the week ending January 30. Since the week ending on May 15, however, we've only seen one double digit decline in the number of rigs. In th...