OPEC, for some quiet moments..

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U.S. oil and gas companies are slowly stepping up investment in wells and other industry building blocks for the first time in more than two years, potentially reversing a long slump and offering a small boost to overall economic growth as the year ends.

Energy firms step up business investment for first time in 2 years - MarketWatch

Anyone planning to trade the outcome of this week’s OPEC meeting might consider the lessons of the group’s last production cut. Then take a deep breath. In December 2008, as oil demand and prices slumped during the global financial crisis, the Organization of Petroleum Exporting Countries, announced a record output reduction. What was supposed to stabilize the market initially sowed more confusion as the group’s statement bundled together previously announced supply curbs and omitted a breakdown of how much each member would cut—details of which leaked out days later.

OPEC’s last cut shows oil market could get a whole lot messier

Low crude prices that have been hammering oilfield service companies for the past two years might be ready to give a little back. Sinopec Oilfield Service Corp., Keppel Corp. Ltd. and others will have a chance to fight for $1 billion a year in new business in Asia as the crude crash forces energy producers to decommission aging and unprofitable fields, industry analyst Wood Mackenzie said in a new report. More than 600 fields, mostly in China, Australia, Indonesia and Malaysia, could be shut down over the next decade.

Low oil prices create a $1-billion business killing aging fields

The oilfield service companies that supply everything from sand to sophisticated rigs are seeking a new lease on life as America’s fracing fortunes begin to turn. Shale drillers have added 158 rigs since May, according to Baker Hughes. At the same time, companies such as Chesapeake Energy Corp. and EOG Resources Inc. have been increasing their efficiency by cramming more and more sand into individual wells, aiming to extend their reach miles further. That’s boosted sand prices roughly 25% to about $24/ton, according to IHS Inc.

Shale rebound starts with costlier grains of sand