OPEC, for some quiet moments..

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U.S. shale oil production is set to rise next year following the rally in prices since OPEC’s Nov. 30 meeting in Vienna, according to the International Energy Agency, which had predicted a decline in its previous report. “U.S. LTO is expected to continue to decline through the end of the year before rising marginally over 2017,” the IEA said. In November, the agency forecast shale-oil output would decline by about 200,000 bpd next year, following a half a million barrel-a-day decline in 2016.

U.S. shale production seen rising next year amid oil price rally

Crude output at major U.S. shale plays is poised to climb for the first time in six months, as oil prices rise on planned cuts by OPEC and other producers. U.S. shale production could top 4.542 MMbpd, a modest increase from December forecasts, the Energy Information Administration said in its Drilling Productivity report released Monday. The gain is being led by the oil-rich Permian basin of New Mexico and Texas, where production has risen steadily for the past 15 months. EIA projects Permian output to rise by 37,000 bopd in January, reaching a record of 2.13 MMbopd.

U.S. sees higher shale output for first time in six months

Up to $15 billion in increased spending will flow into the non-OPEC shale market in 2017, according to a new analysis from Rystad Energy. This incremental change comes after OPEC’s decision to cut production by 1.2 MMbpd.

Service companies exposed to shale seen as winners of OPEC deal

Oil prices at $60/bbl would be “ideal” for OPEC, as higher levels risk sparking a recovery in competing supplies from the U.S., according to Nigeria’s petroleum minister. The “urgency” felt by the Organization of Petroleum Exporting Countries and its partners to end the oil rout will ensure they adhere to their Dec. 10 agreement to cut supplies, Emmanuel Kachikwu said in a Bloomberg Television interview. The accord should push prices—at about $56 today—a bit higher, yet not enough to trigger a comeback in U.S. shale, according to the minister.

OPEC’s ideal price is $60 to avoid shale revival, Nigeria says