OPEC, for some quiet moments..

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Exxon Mobil Corp. missed analyst estimates after a $2-billion writedown in the value of U.S. natural gas fields. The fourth-quarter profit of $1.68 billion, or 41 cents a share, compared with a profit of $2.78 billion, or 67 cents, a year earlier, the Irving, Texas-based oil producer said in a statement on Tuesday. That was below the lowest of 21 estimates of analyst surveyed by Bloomberg.

Exxon misses estimates as $2-billion writedown erodes cash

OPEC appears to have persuaded investors that it’s making good on promised production cuts. Enter your email Sign Up Money managers are the most optimistic on West Texas Intermediate oil prices in at least a decade as the Organization of Petroleum Exporting Countries and other producers reduce crude output. Saudi Arabia has said more than 80 percent of the targeted reduction of 1.8 million barrels a day has been implemented. Oil shipments from OPEC are plunging this month, according to tanker-tracker Petro-Logistics SA.

OPEC Convinces Investors That Its Oil Output Cuts Are Real - Bloomberg

West African oil producers will next month send the most crude to Asia in at least five years, the latest sign of how refineries in the world’s biggest demand region are scouring the world to replace supplies cut by OPEC’s Middle East producers. Shipments on the trade route, among the longest for supertankers, are set to soar to 2.19 MMbopd in February, the highest level since at least August 2011, according to data compiled by Bloomberg from traders. China and India will be the biggest buyers. In recent weeks, a similar picture emerged from both the North Sea, where unprecedented eastbound flows have been observed, and also the U.S.

West African oil floods to Asia in latest sign of OPEC’s impact

Oil-services giant Halliburton told employees to stay put. Another global oil company is reconsidering whether to place a crude trader in Houston. And universities that train energy workers across the country estimated that hundreds of students may be affected. Of all the energy sectors that may feel the pain of President Donald Trump’s order to temporarily ban people from seven majority-Muslim countries, oil and natural gas companies—industries he vowed to help during his election campaign—stand to be hit the hardest. On Monday, energy companies led declines in the Standard & Poor’s 500 Index as investors weighed Trump’s first week in office.

Oil braces for Trump ban fallout as Halliburton says stay put