03:46 PM EDT, 04/26/2024 (MT Newswires) -- The number of oil rigs operating in the US decreased by five this week, according to data compiled by energy services company Baker Hughes ( BKR ) .

The weekly count for oil dropped to 506 from 511, while gas lost one rig week to week at 105, Baker Hughes ( BKR ) said Friday. The miscellaneous tally remained unchanged at two. A year earlier, the US had 591 oil, 161 gas and three miscellaneous rigs in operation, the company's data showed.

Overall, 613 rigs were operating in the US this week, down from 755 a year earlier. Among US states, top producer Texas added one rig to 297. Louisiana lost four rigs, while the count dropped by one each in Colorado, New Mexico, and Pennsylvania.

Across North America, oil-and-gas equipment dropped by 15 on a weekly basis to 731, compared with 848 at the same point last year. The count in Canada decreased by nine to 118 rigs, with its oil tally dropping by four to 56 and gas losing five at 62.

West Texas Intermediate crude oil edged up 0.2% to $83.73 per barrel in Friday late-afternoon trade, while Brent rose 0.3%, both on course for weekly gains.

"Crude oil is heading for a weekly gain but overall remains range bound and with no clear signals, the focus is likely to remain on macroeconomic developments," Saxo Bank said in a note on Friday.

Commercial crude stockpiles in the US unexpectedly fell last week, data from the Energy Information Administration showed Wednesday.

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