OPEC, for some quiet moments..

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Few quiet moments, but still..

Saudi Arabia, the world’s biggest oil exporter, told OPEC that it kept pumping the most crude in three decades last month amid growing signs that the 12-nation group’s quest to maintain market share is working. The kingdom produced 10.33 MMbopd in May, an increase of 25,000 bopd from April, according to data the country communicated to the Organization of Petroleum Exporting Countries. The group supplied almost 31 MMbopd collectively, the most in almost three years.

Saudi Arabia keeps pumping at three-decade high as shale buckles

U.S. oil output will peak at a 43-year high in 2015 as producers work through a backlog of uncompleted wells before trailing off in the second half of the year. Production will increase to 9.43 MMbopd this year, the most since 1972, the Energy Information Administration said Tuesday in its monthly Short-Term Energy Outlook. That’s 240,000 bopd higher than last month’s estimate. Monthly output will fall in June through early 2016.

U.S. oil production to peak at 43-year high before trailing off

The Canadian Association of Petroleum Producers (CAPP) cut its 2030 oil production forecast by 17% as capital expenditures slipped after crude prices tumbled. The world’s third-biggest holder of crude reserves will produce 5.3 MMbpd, down from 6.4 million forecast a year ago, CAPP said. The organization cut its forecast after oil dropped to $42 a barrel this year from near $108 in June as the Organization of Petroleum Exporting Countries maintained quotas amid a surge of U.S. shale oil.

Canada energy group cuts oil output forecast as outlays drop

InterOil Corporation has resumed drilling at Wahoo with the Wahoo-1 side-track exploration well in Petroleum Prospecting License 474 in the Gulf Province of Papua New Guinea. The Wahoo-1 side-track well is the follow-up to Wahoo-1, which was suspended in July 2014 due to higher-than-expected pressures.

InterOil resumes drilling at Wahoo in Papua New Guinea