The number of active rigs drilling for oil and gas in the U.S. rose by 4 to 592 for a fourth consecutive weekly gain, Baker Hughes said.

The anticipated upcycle in deepwater drilling has been deferred to 2026 or later due to factors like FPSO lead times, regulatory approvals, and capital discipline.

U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row to the highest level since June, energy ...