Total said it may take advantage of the slump in crude to make acquisitions that build on the strengths of Europe’s third-biggest oil company in deepwater offshore fields and liquefied natural gas (LNG).

Weatherford International raised its layoff target to 10,000 positions on Thursday after booking an over 50 percent income drop in the first quarter.

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.

The US should remove the national interest demonstration requirement for LNG exports to countries with which it does not have a free-trade agreement before it loses one of its biggest energy and economic opportunities in its history, anExxonMobil Corp. executive said.

Turkey's relationship with Russia is changing significantly. A domestic economic crisis, low energy prices and European energy diversification efforts have weakened Russia.

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.

Revenue for the first quarter of 2015 was $4.6 billion, down 20% compared to the first quarter of 2014.

Schlumberger Announces First-Quarter 2015 Results

OPEC should consider re-introducing individual output quotas, shuffled quietly to one side in 2008, to prevent oversupply hitting prices should Iran increase its oil exports following a deal over its nuclear work, an OPEC delegate said.

Crude oil prices for May delivery climbed for a sixth consecutive day on both New York and London markets Apr. 16, which analysts attributed to signs of a possible slowing in US oil production.

U.S. Rig Count is down 34 rigs from last week to 954, with oil rigs down 26 to 734, gas rigs down 8 to 217, and miscellaneous rigs unchanged at 3.