OPEC, for some quiet moments..

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The biggest player in the Permian basin, America's most coveted oil field, thinks rig counts in the region are poised for explosive growth. In an interview with Bloomberg, Pioneer Natural Resources Co. CEO Scott Sheffield predicted that 100 oil rigs will be added in the area considered to be U.S. shale drillers' version of prime real estate over the next year. Bloomberg Intelligence Analysts Vincent Piazza and Daniel Krauser note that Pioneer has the highest gross production of any driller in the Spraberry and Wolfcamp formations in the Texan oil field. The shale revolution sparked a frenzied rise in U.S. crude production that eventually drove oil prices to their lowest level in more than a decade earlier this year. While prices have since recovered, they've failed to sustainably hold above $50/bbl—and any advances may continue to be capped if drillers boost activity in the productive Permian basin.

Top Permian oil producer says rig counts in the region are going to soar

OPEC finally blinked in its two-year price war with U.S. oil producers. Whether that translates into a financial victory for the American shale industry remains to be seen. Oil prices and the shares of U.S. drillers kept climbing on Thursday, a day after the Organization of Petroleum Exporting Countries promised its first production cut in eight years. The U.S. companies will need oil to hold above $50/bbl for months before they commit to more spending, according to analysts at firms including S&P Global Platts and Oppenheimer & Co.

OPEC ‘capitulation’ leaves challenges for U.S. shale drillers

Oil’s rally will stall at $55/bbl as U.S. shale drillers get back to work and a “wall of supply” from investments made over the past decade hits the market, Goldman Sachs Group said. Global oil markets are set to remain “very oversupplied” in 2017 amid the return of disrupted output in Nigeria and Libya, resilient U.S. shale production and the start of major projects commissioned over the past 10 years, Goldman’s head of commodities research Jeff Currie said in a Bloomberg television interview.

‘Wall of supply’ to block oil rally at $55, Goldman Sachs says

Saudi Arabia, the world’s largest crude exporter, cut pricing for November oil sales to Asia and Northwest Europe and for most grades to other regions amid a global supply glut. State-owned Saudi Arabian Oil Co., known as Saudi Aramco, lowered its official pricing for Arab Light crude to Asia by 25 cents/bbl to 45 cents less than the regional benchmark, it said Wednesday in an emailed statement.

Saudi Aramco cuts pricing for oil sales to Asia as glut persists