General Electric Co’s Baker Hughes posted a quarterly profit that beat Wall Street estimates on Friday as improving oil prices prompted companies to ramp up oil and gas production. U.S. crude futures climbed 7.5 percent in the first quarter of 2018, re-energizing oil and gas producers that held back investments in recent years amid a steep drop in prices. That boost has benefited service companies, among the hardest hit by the oil price downturn that started in mid-2014. “Market fundamentals remain supportive, as crude oil prices are relatively rangebound, providing stability to customers as they evaluate projects,” said Baker Hughes Chief Executive Officer Lorenzo Simonelli in a statement. Excluding items, GE Baker Hughes earned 9 cents per share, beating analysts’ estimates by 3 […]