03:30 PM EDT, 07/12/2024 (MT Newswires) -- The number of oil rigs in the US dropped by one for the week ended July 12, according to data compiled by energy services company Baker Hughes ( BKR ) .

The count for oil declined to 478 from 479 a week earlier. The tally for gas fell by one to 100, while miscellaneous added one rig to six. A year earlier, the US had 537 oil, 133 gas and five miscellaneous rigs in operation, company data showed.

Overall, 584 rigs were operating in the US this week, down from 675 a year earlier. Among US states, top producer Texas lost two rigs to 276, while Louisiana added one rig.

Across North America, oil-and-gas equipment jumped by 13 on a weekly basis to 773, compared with 862 at the same point last year. The count in Canada grew by 14 to 189 rigs, led mainly by oil.

West Texas Intermediate crude oil was down 0.4% at $82.26 per barrel in Friday late-afternoon trade.

Government data showed Wednesday that commercial crude stockpiles in the US posted a surprise draw last week.

Also on Wednesday, the Organization of the Petroleum Exporting Countries kept its 2024 and 2025 global oil demand growth forecasts unchanged, at 2.2 million barrels per day and 1.8 million barrels per day, respectively.

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