04:02 PM EDT, 08/15/2025 (MT Newswires) -- The number of oil rigs in the US increased by one in the week through Friday, data compiled by Baker Hughes (BKR) showed, while crude prices fell as talks between US President Donald Trump and Russian leader Vladimir Putin got underway.

The count for oil rose to 412 rigs from the previous week's 411, while the tally for gas dropped by one to 122, according to energy services company Baker Hughes. Miscellaneous rigs' total was unchanged at five.

The US had 483 oil, 98 gas and five miscellaneous rigs in operation a year earlier, the data showed. Among US states, Louisiana added two rigs on a weekly basis, while Texas and Wyoming lost one each.

Across North America, the oil and gas rig count rose by three to 722, with Canada's tally increasing by three to 183.

West Texas Intermediate crude oil fell 1.5% to $63.03 a barrel in Friday late-afternoon trade, while Brent dropped 1.2% to $66.05 a barrel.

A meeting between Trump and Putin kicked off in Alaska. Trump, who wants Putin to agree to a peace deal with Ukraine, previously said there would be serious consequences if Moscow doesn't accept a ceasefire.

Both oil price benchmarks were on track for back-to-back weekly losses, with WTI shedding 1.7% and Brent down 1.2% on the week.

On Wednesday, the International Energy Agency lowered its projections for global oil demand growth for 2025 and 2026, while raising supply forecasts on the back of the latest output hike by certain oil-producing nations.

Unless talks between Trump and Putin break down, "the macro drag" from demand headwinds may limit oil price growth, Saxo Bank Head of Commodity Strategy Ole Hansen said in a report published Friday.