OPEC, for some quiet moments..

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In fact, some observers expect a second wave of technological innovation in shale oil production that will equal or surpass the first one, which was based on horizontal drilling and hydraulic fracturing, or fracking. Fueled by rapid advances in data analytics—aka big data—this new wave promises to usher in a second American oil renaissance: “Shale 2.0,” according to a May 2015 report by Mark Mills, a senior fellow at the Manhattan Institute, a free-market think tank.

Data Analytics Are Leading to a “Shale 2.0” Revolution | MIT Technology Review

A draft report by the Environmental Protection Agency (EPA) confirms that hydraulic fracturing has not led to widespread, systemic impacts on drinking water resources thanks to the safety and effectiveness of state and federal regulations, and current industry practices. “After more than five years and millions of dollars, the evidence gathered by EPA confirms what the agency has already acknowledged and what the oil and gas industry has known,” said API Upstream Group Director Erik Milito. “Hydraulic fracturing is being done safely under the strong environmental stewardship of state regulators and industry best practices.”

EPA hydraulic fracturing review confirms safety

“I have been in OPEC for some many years, and it is the first time I had seen this,” OPEC Secretary-General Abdalla El-Badri said after the meeting. “Very, very positive.” Last November, when the Organization of Petroleum Exporting Countries introduced its strategy of maintaining production to take market share from higher-cost producers, the group’s weaker members like Venezuela argued for a cut to boost prices. This time, even they were supportive amid signs the strategy is working.

OPEC Ministers Find Key to Happy Union as Iran Met With Silence - Bloomberg Business

Recent and compounding data will soon wash away the walls of worry erected by the experts. Four consecutive weeks of inventory draws, each one larger than the last is irrefutable proof that a 60% decline in the rig count means something.

Forget the noise: Oil prices won't crash again