Low Prices Raise Demand and Imports in US 

The latest data and forecasts from the US confirm that in response to the collapse in oil prices drilling is being cut back to the lowest level since the Second World War and that consumption is rising while domestic output is falling, leading to a sharp increase in imports.

According to the Hughes Tool Company, the number of drilling rigs active in the US fell to 809 last week down from 1,915 at the beginning of the...