More U.S. producers cut budgets as crude falls below $30 a barrel

EOG Resources Inc , Whiting Petroleum Corp and EQT Corp cut drilling activity and budgets on Monday, becoming the latest North American shale producers to be hit by lower oil prices, which fell below $30. Oil producers are trying to shore up cash as demand dwindles because of the global coronavirus outbreak and the double-whammy of a price war that threatens shale companies, which had budgeted for oil prices at $55 per barrel to $65 per bar