(Reuters] Baker Hughes Co announced Wednesday a larger quarterly profit than a previous year. The increase in commodity prices fueled drill activity and the demand for services oilfield.

Petroleum benchmarks were at their lowest volatility since mid-2020, with crude oil prices rising more than 38% globally in the first quarter due to Russia’s incursion in Ukraine in February. This triggered global concerns about global energy supplies.

According to Baker Hughes data, the rally in crude oil prices has increased drilling activity. The U.S.’s rig count rose by more than 56% annually to 673 at end of first quarter.

Lorenzo Simonelli is Baker Hughes’ chief executive officer.

From $91million, 12 cents per shares a year earlier, the adjusted net income rose from $145 million to 15 cents per share in March 31st, to $145 millions, for $145 million.