OPEC, for some quiet moments..

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In its mid-year update to the 2015 Canadian Drilling Activity Forecast, released Thursday, the Petroleum Services Association of Canada (PSAC) is forecasting a total of only 5,320 wells to be drilled across Canada in 2015. This decrease of 4,780 wells from PSAC’s original drilling forecast, released in October 2014, represents a 47% drop.

PSAC cuts 2015 Canadian drilling forecast in half

EOG Resources, the biggest shale-oil producer, will resume major growth in output once crude prices are stable at $65/bbl. The company will likely start to ramp up activities again in the fourth quarter, Chairman and Chief Executive Officer William Thomas said on conference call Tuesday. The company yesterday reported a $169.7 million net loss for the first quarter, it’s first negative results in more than two years.

EOG will resume major oil growth at ‘stable’ $65 oil price

The U.S. will become one of the world’s largest oil exporters if domestic production continues to surge and policy makers lift a four-decade ban that keeps most crude from leaving the country, a government-sponsored study shows.

U.S. seen joining biggest oil exporters if ban is lifted

As oil prices climbed above $68 on Tuesday for the first time since December, analysts at some of the world’s biggest banks were holding onto views that this would be a bad year for crude—just not as terrible as they originally predicted. Rather then extending last year’s losses, Brent, the global benchmark, has rallied about 50% from a six-year low in January as demand accelerated and the rapid growth in supplies started to slow.

Oil analysts practice cautious capitulation as crude surprises