OPEC, for some quiet moments..

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OPEC oil supply is set to fall by 419,000 barrels per day (bpd) this month, a company that tracks OPEC shipments forecast on Monday, reflecting plans for lower exports by Saudi Arabia and reductions by other producers. The 14-member Organization of the Petroleum Exporting Countries has agreed to cut output by about 1.2 million bpd until March 2018 in an effort to reduce inventories and support prices.

OPEC oil supply set for sharp drop in August: PetroLogistics

Canadian oil sands producers such as Cenovus and MEG Energy impressed investors in the second quarter as prices of heavy crude rose, but those gains are expected to be short-lived. Most of these companies are expected to book losses or post sharp drops in profit in the coming quarters as prices take a hit from a spike in oil sands production and costs rise due to a lack of pipeline capacity.

Canadian oil sands producers: Heady days may not last long

Mark Fisher forecast natural gas prices will break $4 or $5 per mmbtu once a streak of warm winters breaks. Fisher says general investors could buy into natural gas drillers rather than trying to time commodity price moves. Fisher is less bullish on oil drillers and thinks crude will remain stuck in a range between $40 and $50 a barrel for some time.

Mark Fisher: Natural gas will break out above $4 or maybe $5

The U.S. shale industry has had a rough few weeks, with a growing number of reports suggesting that the industry is facing much more financial trouble than many analysts had expected. Now, a new report adds further evidence to the notion that shale is losing its luster in a $50 per barrel market, with producers forgoing shale in favor of older wells. U.S. shale was thought to be the most competitive source of oil out there, and indeed the industry appears to be ramping up production at today’s prices. Shale had adapted to a $50 per barrel market, producers had streamlined operations to make them almost resemble an assembly line, and in a volatile and unpredictable market, the short-cycle nature of shale drilling made it one of the least risky options for drillers.

The Latest Red Flag For U.S. Shale | OilPrice.com