Oil headed for the biggest weekly decline since March as a rebound in U.S. drilling added to signs that producers will keep pumping into an oversupplied market. Futures in New York fell for a third day, extending this week’s decline to 5.2 percent. The number of active rigs seeking oil climbed by 12 to 640, the first gain since December, according to data from Baker Hughes Inc. Iran said it recognizes the right of United Nations monitors to seek visits to sensitive sites , as diplomats work on a nuclear agreement that could restore the OPEC member’s crude exports. Oil’s recovery from a six-year low in March has faltered amid speculation that rising prices will spur production and prolong a surplus. OPEC’s output expanded last month to the highest level since August 2012 as Iraq pumps at a record pace, a Bloomberg survey showed this week. “The rig count […]