OPEC, for some quiet moments..

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Enough already! Jim Cramer is hearing opinions flying all over the place on the hazards of low oil prices. So here are the facts—not opinion, not speculation—just good, hard facts. Some 16 states benefit from high oil prices, of which six really rely on oil for job growth. Approximately 10 percent of the U.S. lives in those states. That means that even if every one of those people in these states were to get hurt by oil, there are still 290 million Americans who will benefit.

Don't freak out! Here are the facts on oil

America's oil in storage just hit another record after rising for the 11th consecutive week.  Stockpiles rose 8.2 million barrels, or 1.8 percent, to 466.7 million barrels last week, the EIA reported today. Analysts had expected an increase of 4.75 million barrels. The amount of oil the U.S. is cranking out also edged up slightly, for the seventh consecutive week, to a rate of 9.42 million barrels a day.

Oil in Storage Rises More Than Expected Again - Bloomberg Business

That’s where the extra space comes in. There’s the normal “working” capacity. And then there’s “contingency” space, a buffer between the working storage and the tank tops that typically sits empty to keep oil from spilling out. The company that built most of the tanks at Cushing, Oklahoma, the biggest U.S. oil hub, says the buffer is about 3 to 5 percent of storage space. That’s equivalent to about 20 million barrels of room in tanks across the country.

The 20 Million Barrels of Pure Profit Sitting in U.S. Oil Tanks - Bloomberg Business

The oilfield-services industry is bracing for slow business this year after the value of Brent crude sank by about half in 2014. The crash in prices has forced some oil producers to delay or cancel projects, sapping demand for drilling companies and allowing their remaining customers to negotiate cheaper rates.

Cairn Energy sees 50% lower rig cost sustaining Senegal drilling