Oilfield services provider Baker Hughes Inc, which is being acquired by larger rival Halliburton Inc, said it expected global rig count to decline by as much as 30 percent in 2016, as the slump in oil prices shows no signs of abating. Baker Hughes shares rose as much as 6 percent in early trading on Thursday, in step with oil, which inched towards $35 on the possibility of major producers co-operating to cut output. A more than 70 percent slide in crude prices since June 2014, caused by a glut and weakening demand, has forced oil producers to lay down rigs and scale back spending. The worldwide rig count more than halved in 2015, meaning 2016 will be the second straight year of reduced drilling activity. Chief Executive Martin Craighead said “customers’ challenges of maximizing production, lowering their overall costs, and protecting cash flows were […]