02:37 PM EDT, 08/22/2025 (MT Newswires) -- The number of oil rigs in the US dropped by one in the week through Friday, Baker Hughes ( BKR ) data showed, as crude prices headed for their first weekly rise in three weeks.

The count for oil fell to 411 rigs from the previous week's 412, while the tally for gas was steady at 122, according to energy services company Baker Hughes ( BKR ). Miscellaneous rigs' total was unchanged at five.

The US had 483 oil, 97 gas and five miscellaneous rigs in operation a year earlier, the data showed. Among US states, Texas lost two rigs, while Louisiana added two.

Across North America, the oil and gas rig count fell by four to 718, with Canada's tally down by three to 180.

West Texas Intermediate crude oil edged up 0.3% to $63.70 a barrel in Friday afternoon trade, while Brent rose 0.1% to $67.76 a barrel. Both benchmarks were on track for weekly gains following two consecutive weeks of losses, with WTI up 1.4% and Brent up 2.9% on the week.

"The recovery was driven by technical support levels holding near $65 for Brent and $62 for WTI, which spurred short covering," Saxo Bank Head of Commodity Strategy Ole Hansen said in a report published Friday. "Fundamentals also provided tailwinds: the US reported a larger-than-expected crude stock draw, driven by exports and refinery runs at their strongest pace since 2019."

Government data on Wednesday showed crude inventories in the US, excluding the strategic petroleum reserve, declined by 6 million barrels through the week ended Friday.

Earlier this month, eight members of the Organization of the Petroleum Exporting Countries and its allies -- collectively known as the OPEC+ -- agreed to increase oil production by 547,000 barrels a day next month.

"The market is not without headwinds, especially considering an ongoing OPEC+ supply increase and a seasonal weakening in gasoline demand," Hansen wrote. "For now, however, the technical resilience at recent lows, potential disruptions to Russian exports, and the first ever recorded net short position held by speculators in ICE and CME WTI futures contracts combined have all supported a rebound but in our opinion not a sustained recovery."

Price: 44.65, Change: +1.19, Percent Change: +2.73