OPEC, for some quiet moments..

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A year ago, when Anatole Kaletsky suggested that the price of oil might fall to $20 a barrel, most people laughed. The global economy was growing! Demand was picking up! Oil had been at $100 only recently!

Some people think Iran can supply $1 oil - Business Insider

Wintershall and the local state-owned energy company Gas y Petróleo del Neuquén have signed an agreement under which Wintershall will increase its interest in Argentina's Aguada Federal Block from 50% to 90%. In March 2015, Wintershall began with an own-operated exploration campaign in the block; the company has already drilled two vertical exploration wells, which are currently being tested. The exploration wells aim to provide important information about the characteristics of the crude oil and natural gas reservoir, which includes promising shale rock of the Vaca Muerta formation. Together with the U.S., Argentina is one of the most important growth regions in the field of unconventional oil and gas production. The South American country has the second-largest shale gas deposits and the fourth-largest shale oil deposits in the world.

Wintershall eyes Argentina’s Vaca Muerta shale with new investment

On the heels of the U.S. government's recent lifting of the federal ban on the export of crude oil produced in the U.S., NuStar Energy and ConocoPhillips said Wednesday that they are loading what they believe to be the nation's first export cargo of U.S.-produced light crude oil since the 40-year-old ban was lifted on Dec. 18.

ConocoPhillips to export first U.S. shale oil as it beats rivals

Russia may cut its oil-price estimate for the 2016 budget next year, possibly following other crude-exporting nations as the commodity, which makes up about 40% of the country’s budget revenue, nears 11-year lows. “We should be ready for any oil price developments—our estimates for next year are for about $40/bbl for budget calculations,” Finance Minister Anton Siluanov said Wednesday in an interview with state television Rossiya 24. His ministry will prepare proposals to review fiscal plans at the end of the first quarter “if the situation doesn’t change,” he said. The 2016 budget, signed by President Vladimir Putin earlier this month, is based on an average oil price of $50/bbl.

Russia may cut crude estimate in 2016 budget as prices plunge