OPEC, for some quiet moments..

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A new report by the U.S. Energy Information Administration estimates that members of the Organization of Petroleum Exporting Countries (OPEC) earned $404 billion in net oil export revenue in 2015 - the lowest levels since 2004. The figures, based on EIA estimates, show a 46 percent decline in revenues when compared to the same statistic from 2014, when the 12-member bloc earned $753 billion.

EIA: OPEC Earns Lowest Oil Revenues in Over A Decade | OilPrice.com

Crude could return to $100/bbl because the two-year market downturn has curbed investment, according to Lukas Lundin, a member of Lundin Petroleum AB’s board and chairman of Lundin Mining Corp. That kind of price rebound won’t be good for the industry, said Lundin, a member of the billionaire Swedish family with interests spanning oil and solar energy, to diamonds and gold.

Potential rebound to $100 crude could hurt oil industry, Lundin says

For all the feverish speculation of OPEC action that’s roiling oil markets, the real reason for crude’s recent recovery probably lies elsewhere. Oil futures have rallied more than 10% since the Organization of Petroleum Exporting Countries said it would hold informal talks in Algeria in late September, fueling expectations it could revive a pact on freezing production. Banks from Citigroup to Bank of America Merrill Lynch see a simpler explanation for the rebound: the global oil oversupply is finally dissipating.

Look past OPEC freeze hype to understand oil’s advance

China’s biggest oil company wants natural gas to account for half its output by the end of the decade. PetroChina aims to raise natural gas as a share of its production from 37% currently, President Wang Dongjin told reporters Thursday in Hong Kong. The company supports the government’s efforts to liberalize gas prices and implement market-based reforms, he said.

China’s biggest oil company aims for 50% natural gas by 2020