03:44 PM EDT, 05/30/2025 (MT Newswires) -- The number of oil rigs in the US fell by four in the week through Friday, data compiled by energy services company Baker Hughes ( BKR ) showed.

The count for oil dropped to 461 from last Friday's 465 tally, while gas added one rig to 99. Miscellaneous rigs were unchanged at three. The US had 496 oil, 100 gas and four miscellaneous rigs in operation a year earlier, the data showed.

A total of 563 rigs were operating in the US as of Friday, compared with the previous week's tally of 566 and a year earlier's 600.

Among US states, New Mexico, Ohio, Oklahoma and West Virginia lost one rig each, while Pennsylvania added one.

Across North America, the oil and gas rigs count decreased by five to 675, with Canada's tally down by two at 112.

West Texas Intermediate crude oil was down 0.3% at $60.77 a barrel in Friday late-afternoon trade, while Brent fell 1% to $62.73 a barrel. Both benchmarks were on track for second straight weekly declines, with Brent down 2.5% and WTI off 1.1%.

A pending decision by the Organization of the Petroleum Exporting Countries and its allies on output is "looming large in the oil market, with crude prices headed for a second consecutive weekly decline on the prospect of rising supplies," D.A. Davidson said in a client note Friday.

Eight members of the cartel started to unwind voluntary output cuts earlier this year, agreeing to larger-than-projected increases of 411,000 barrels a day for May and June, Reuters reported. The members could opt to hike production by a similar magnitude for July at their meeting scheduled for Saturday, the news agency reported, citing unnamed sources.

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