OPEC, for some quiet moments..

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For its part, China sees its crude demand rising to 11.32 mbpd in 2016, up approximately 460,000 bpd from last year. Net crude imports are slated to swell 7.3 percent to 7.14 mbpd – Saudi Arabia being the primary beneficiary. Further, China seeks to dramatically expand its strategic petroleum reserves (SPR) by 2020. Some 360 million barrels of capacity still wait, and 2016 could see China import 150 million barrels of SPR-destined crude.

China sponge soak up world's oil - Business Insider

Exxon Mobil Corp. on Tuesday reported its smallest quarterly profit in more than a decade and said it will cut 2015 spending by one-quarter and suspend share repurchases as it copes with a prolonged downturn in crude prices.

Exxon's fourth-quarter profit falls 58%, cuts capex by quarter

BP slumped to its worst annual loss in over 20 years in 2015, the British oil and gas company announced on Tuesday, and said it would cut thousands more jobs in the face of a deep rout in oil prices. The company, which is still grappling with the huge costs from the deadly 2010 Gulf of Mexico oil spill, said it would cut 7,000 jobs by 2017, nearly 9% of its workforce.

BP reports worst annual loss in over 20 years as it cuts 7,000 jobs

Anadarko Petroleum Corp. on Monday reported a larger quarterly loss but smaller than Wall Street expected and the U.S. oil company said it expects to slash capital spending about 50% this year to conserve cash.

Anadarko posts quarterly loss, expects to cut capex in half