OPEC, for some quiet moments..

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In the past, large integrated oil companies — like BP and Exxon Mobil — and state-owned oil companies have owned the more efficient, low-cost production while smaller oil companies faced higher barriers to entry. In the past, drilling oil necessarily required huge investments in platforms and equipment; massive balance sheets or state backing were virtually required to get into the market. But with lower-cost fracking technology, this has changed.

The new structure of the oil market - Business Insider

In a note to clients this week, analysts at Credit Suisse noted that ConocoPhillips and Total have both said the cost of production for US shale will fall 30%, and that 80% of shale oil produced will make financial sense to produce with prices below $60 a barrel at the end of this year.

The new structure of the oil market - Business Insider

A report from the Saudi central bank suggests while non-OPEC producers are not losing in the price war, more patience is needed from OPEC producers. But the effort to hurt other producers may be backfiring: Saudi Arabia is facing huge budget deficits this year due to low oil prices—the government has started dipping into its reserves and the deficit for 2015 is expected to be 20 percent of gross domestic product. Analysts say U.S. oil producers need to cut production by 500,000 barrels a day to bring supply levels down to boost prices.

Oil Prices Are Near Six-Year Lows Amid Supply Glut - The Atlantic

From Chevron Corp. to Royal Dutch Shell Plc, producers are firing thousands of workers and canceling investments to defend their dividends. Cutbacks across the industry total $180 billion so far this year, the most since the oil crash of 1986, according to Rystad Energy AS, an Oslo-based energy consultant.

To Please Investors, Big Oil Makes Deepest Cuts in a Generation - Bloomberg Business