U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since March, keeping the count steady in April, energy services firm Baker Hughes Co BKR.O said in its closely followed report on Friday.

The oil and gas rig count, an early indicator of future output, rose two to 755 in the week to April 28.

Baker Hughes said that puts the total rig count up 57, or 8%, over this time last year.

U.S. crude production fell in February to 12.5 million barrels per day (bpd), its lowest since December, while implied fuel demand rose to nearly 20 million bpd, its highest since November, according to the Energy Information Administration (EIA).

U.S. oil futures CLc1were down about 5% so far this year after gaining about 7% in 2022. U.S. gas futures NGc1, meanwhile, have plunged about 47% so far this year after rising about 20% last year.

Meanwhile, the No. 2 U.S. producer Chevron CorpCVX.N on Friday posted profits for the first quarter despite lower energy prices and oil and gas production.

The top U.S. producer Exxon Mobil CorpXOM.N made a record first-quarter profit by pumping more oil and gas.
Source: Reuters (Reporting by Scott DiSavino Editing by Marguerita Choy)