OPEC, for some quiet moments..

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U.S. benchmark oil prices surged to a four-month high after stockpiles at the nation’s biggest storage hub fell for the first time since November. The drop in crude inventories at Cushing, Oklahoma, the main delivery point for West Texas Intermediate contracts, boosted optimism a supply glut will ease in the coming months.

Oil jumps as decline in Cushing stockpiles signals glut to ease

As U.S. producers slashed spending, idled rigs, withheld completions, and neared the ceiling on domestic storage capacity, OPEC generally maintained its high production in the first quarter. Despite OPEC members boosting crude production by 810,000 bopd during March, recent short-term forecasts from the Energy Information Administration (EIA) show continued growth in US production through the second quarter. However, as low oil prices and spending reductions continue to impact domestic producers, the EIA expects production to slow in the second half of 2015.

EY: Oil’s new swing producer balances storage capacity amid low prices

Returns on state pension funds from investments in oil and natural gas companies continue to provide strong earnings for public pension retirees, including America’s teachers, firefighters and police officers, according to a Sonecon study released Tuesday by API. On average, $1 invested in oil and natural gas stocks in 2005 was worth $2.30 in 2013. By contrast, $1 invested in all other assets over the same period was worth $1.68.

Oil, gas stocks outperform other assets in state pension funds, study finds

Papua New Guinea -- InterOil Corporation has begun flow testing at the Elk-Antelope gas field in Papua New Guinea as part of the field appraisal. The Antelope-5 flow rate is constrained by reservoir engineers to a maximum test rate of about 70 MMcfgd. Dr Hession said pressure gauges are planned to be placed in the field to monitor the pressure response during an extended test of Antelope-5. "Antelope-5 has the best reservoir thickness, quality and fracture density of all wells on the field, which signifies a world-class reservoir," Dr Hession said.

Flow testing starts at Antelope field in Papua New Guinea