03:41 PM EDT, 09/06/2024 (MT Newswires) -- The number of oil rigs in the US were unchanged at 483 for the week ended Friday, according to data compiled by energy services company Baker Hughes ( BKR ) .

The tally for gas fell by one to 94 on a weekly basis, while miscellaneous rigs were unchanged at five. A year earlier, the US had 513 oil, 113 gas and six miscellaneous rigs in operation, company data showed.

Overall, 582 rigs were operating in the US this week, down from 632 a year earlier. Among US states, Pennsylvania lost two rigs, while West Virginia added two.

Across North America, oil-and-gas rigs fell by one on a weekly basis to 802, compared with 814 at the same point last year. The count in Canada was flat at 220 rigs.

West Texas Intermediate crude oil was down 1.9% at $67.83 a barrel in Friday late-afternoon trade, on course for a fourth consecutive weekly loss.

On Thursday, certain members of the Organization of the Petroleum Exporting Countries and its allies, or OPEC+, agreed to extend their voluntary oil output cuts for an additional two months.

The move isn't surprising given the recent pressure on the oil market, ING said in a report published Friday. The OPEC+ members are now scheduled to gradually bring back 2.2 million barrels per day of supply from December 2024 through November 2025.

"Clearly, (market) sentiment is still negative given worries over demand," ING wrote. "OPEC+ is likely hoping that sentiment turns more positive over the course of the next two months, allowing them to start bringing supply back to the market."

The oil balance is in surplus over 2025, indicating prices are expected to continue to be under pressure without OPEC+ "taking longer term action," the firm wrote.

Price: 33.79, Change: -0.32, Percent Change: -0.94