Drilling activity posted a third consecutive weekly increase, the first such trend since December 2023. Oilfield services firm Baker Hughes said Friday its weekly U.S. rig count was up two rigs to 588 for the week.

The number of active rigs drilling for oil and gas in the U.S. rose by 2 to 588 for a third consecutive weekly gain, Baker Hughes said Friday in its latest report. Despite the increase, Baker Hughes said the total count was still down 33 rigs,