If there was one thing guaranteed to follow low oil prices (other than the loss of thousands of jobs) it was mergers and acquisitions. This has certainly rung true as companies consolidate their portfolios or use their war chests to snap up competitors while prices are down. The recent deal between Royal Dutch Shell and BG Group has many expecting a renewed wave of major business decisions. The buzz has fueled rumors that BP Plc will be susceptible to a takeover by fellow oil giant Exxon Mobil Corp.

ConocoPhillips, the third-largest U.S. oil producer, is exploring the sale of some its North Sea assets in Norway as it seeks to divest overseas operations, two people with knowledge of the matter said.

Global oil demand is set to rise by 1 million or even 1.5 million barrels per day (bpd) in 2015, according to a range of forecasters.

While the U.S. rig count keeps falling, weak oil prices won’t stop the United States from becoming a net energy exporter in the coming decades, the Energy Information Administration’s 2015 annual energy outlook said.

North Dakota Democrats are predicting a “nightmare scenario” for future state revenues if the Republican-led Legislature radically restructures oil taxes as a hedge against falling crude prices.

Baker Hughes Inc (BHI.N), which is being bought by Halliburton Co (HAL.N) for $35 billion, said it expects "unfavorable market conditions" to persist in the second quarter as drillers turn off more rigs, intensifying a glut in oilfield services.

Oil Minister Ali al-Naimi says Saudi Arabia is producing near record levels of crude in April, underscoring the kingdom's willingness to defend market share at a time when oil markets have staged a fragile recovery.

Oil services company Weatherford International Plc increased the total number of employees it is looking to lay off in 2015 to 10,000 as it copes with the fall in oil prices.

Halliburton has cut 9,000 jobs in about six months and is considering additional cost-cutting moves as falling oil prices reduce demand for its drilling help.

Schlumberger Announces First-Quarter 2015 Results