Baker Hughes data shows a modest increase in active oil and gas rigs, signaling potential production growth.
The US active drilling rig count rose by 1 to 548, marking a third consecutive weekly increase. The gain reflects a slight uptick in energy sector activity amid stable demand conditions.
Oil-targeted rigs increased by 2, while gas rigs saw a marginal decline. The total count remains below pre-pandemic levels but has steadily risen since early 2024.
The report suggests cautious optimism among drillers, though market reactions were muted as the increase was modest and in line with expectations.