U.S. energy firms added oil and natural gas rigs for a fourth consecutive week, reaching the highest level since June, Baker Hughes reported on February 21, 2025. This sustained increase indicates a notable uptick in drilling activity across the United States.
The rise in the rig count, an early indicator of future output, suggests a potential increase in exploration and production efforts by energy firms. This trend can lead to higher demand for oilfield services and equipment provided by companies like Baker Hughes.
This marks the first time since December 2023 that U.S. energy firms have added oil and natural gas rigs for three weeks in a row, highlighting a more consistent positive trend in the sector.
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