OPEC, for some quiet moments..

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Halliburton Co. reported impressive second-quarter results on Monday, but warned the growth in North American rig count was "showing signs of plateauing," sending shares down as much as 4.2%. Oilfield services providers such as Halliburton have been helped by a boom in North American drilling even though oil has stayed below $50.

Halliburton sees North American customers "tapping the brakes"

Oil-weighted exploration and production (E&P) companies operating in the prolific Permian basin have 65% of their oil production hedged at an average strike price of approximately $50/bbl. This supports their aggressive production targets for 2017, according to new analysis from IHS Markit. The IHS Markit hedging analysis “Company Peer Group Analysis—Oil-weighted U.S. E&Ps: Permian operators’ lofty production targets supported by strong hedging,” evaluated the oil and gas hedging in place for a group of 18 oil-weighted U.S. E&Ps in the IHS Markit coverage universe, including a subgroup of 10 Permian basin-focused operators.

Permian operators’ lofty production targets supported by strong hedging, IHS Markit says

The United Arab Emirates reiterated its commitment to the OPEC agreement on production cuts and said it would deepen its own curbs. The Abu Dhabi National Oil Co.’s shipments of Murban, Das and Upper Zakum crudes will be 10% lower from September, Minister of Energy Suhail Al Mazrouei said in a tweet on Tuesday. “The UAE is committed to its share in the OPEC production cut,” he said.

UAE pledges further oil output cuts starting in September

At the meeting of OPEC and non-OPEC producers in St. Petersburg on Monday, Saudi Arabia announced its intention to take further action to bolster flagging oil prices. Saudi oil minister Khaled al-Falih declared Saudi oil exports would be limited to 6.6 million bpd, a decline of almost a million bpd from the country’s export level last year. The oil minister reported that global inventories had fallen by 90 million barrels, crediting the OPEC production cuts. Yet he also said that stocks remained at historically-high levels and additional action by producers would be needed for levels to recede.

Saudis To Take ‘Significant’ Measures To Bolster Oil Prices | OilPrice.com