Oil prices finished slightly higher Friday, but logged their third weekly loss in a month.

Traders continued to weigh signs of OPEC-led cutbacks in global crude production ahead of a meeting of oil producers this weekend, against data pointing to the likelihood of further gains in U.S. output.

Read the entire story here: Oil gains for the day, but suffers 3rd weekly loss in a month

Data from Baker Hughes BHI, -0.29% Friday revealed that the number of active U.S. rigs drilling for oil rose by 21 to 652 rigs this week.

The oil rig count has climbed every week this year so far, except for one. The total active U.S. rig count, which includes oil and natural-gas rigs, also jumped higher by 20 to 809, according to Baker Hughes. May West Texas Intermediate crude CLK7, +0.92% was up 9 cents, or 0.2%, at $47.79 a barrel on the New York Mercantile Exchange for the session, trading near the $47.81 it traded at before the data.

Read the full story: Baker Hughes data show a sizeable weekly climb in U.S. oil-rig count

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