OPEC, for some quiet moments..

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After a brief respite at the start of the year, the world's top oil and gas companies are set to double down on cost cutting as a recovery in crude prices after a three-year slump falters. Corporate hopes were raised by a deal between members of the Organization of Petroleum Exporting Countries and other non-OPEC producers to cut production, which lifted oil prices above $58 a barrel in January, after they had slid to as low as $27 in 2016.

After false dawn, Big Oil to double down on cost cuts

Energy markets might need to be regulated to put a brake on widespread financial speculation that is distorting crude prices, the head of Italian oil major Eni told Il Sole 24 Ore newspaper. Eni (ENI.MI) CEO Claudio Descalzi said OPEC and Saudi Arabia were not in a position to push prices higher by cutting output, adding that geopolitical tensions, growing U.S. shale oil production and heavy speculation in crude futures were hurting the sector.

Oil markets need regulator in face of speculators: Eni CEO

Hedge funds are still holding large bearish bets against oil and OPEC, yet out in the real world traders and refiners buying and selling actual barrels say it’s starting to look somewhat more bullish. "The market is looking a bit better," Ian Taylor, chief executive officer of Vitol Group, the world’s largest oil trader, said in an interview. "Physical differentials are improving across the world.”

Traders Think Hedge Funds Are Missing a Trick With Oil - Bloomberg

U.S. investors are driving down the price of oil by shoveling too much money into American shale companies, the chief executive of Schlumberger Ltd., the world’s largest oil-field service firm, said Friday.

Schlumberger CEO Blames U.S. Investors for Stagnant Oil Prices - WSJ