The Canadian Association of Petroleum Producers on Tuesday said it expects Canadian crude output—mostly from Alberta’s oil sands—to reach 4.96 million barrels a day by 2025. That forecast is less than the previous estimate of 5.6 million barrels a day and the 6.0 million barrels a day it had forecast back in 2013.

The collapse in crude prices will pinch Canada’s long-term oil output growth by more than a million barrels a day, highlighting the lasting impact of energy companies’ capital spending cuts, said an industry group in the world’s fifth-largest producer.

Oil & gas output from ultra-deepwater (>1,000m water depth) fields will continue the relentless growth seen in recent years. In the latest World Drilling & Production Forecast, Douglas-Westwood predict combined oil & gas production from such fields will grow 7.7% year-on-year over 2015-2021 from 6.5 mboe/d to 10.2 mboe/d.

Compared with 2014, IHS expects investment capital in US shale oil plays to be 65% more efficient at the start of 2016 than the start of 2015 due to compounding productivity and cost cuts

The outlook in the Texas oil and gas sector remains negative as most companies expect low capital spending in 2016, the Dallas Federal Reserve said.

Falling oil prices have resulted in much lower gas prices in many parts of the word. As a result, gas demand is enjoying the tailwind of substantial price drops while the upstream sector is suffering amid large capital expenditure cuts.

Nearly a year after oil markets entered a deep downward spiral, unmoored from the $100-a-barrel mark that had anchored them for years, some OPEC members are publicly talking for the first time about a new "fair" price for their crude.

Exxon is the world’s largest listed energy group, and like all big international oil companies it is facing structural challenges that make it difficult for it to grow. Stability while throwing off a lot of cash may be the best they can do.

OPEC oil ministers expressed optimism about their strategy of pumping more crude oil and fighting for market share, amid expectations they will stick to their production target when they meet at the end of the week.

Russian oil output remained unchanged in May at a post-Soviet high of 10.71 million barrels per day (bpd), Energy Ministry data showed on Tuesday, three days before OPEC meets to decide on output levels.

The top oil officials of Iraq and Venezuela said on Wednesday that $75 to $80 a barrel was now a "fair" price for oil, reflecting an emerging consensus on a possible equilibrium for volatile markets

OAO Gazprom, the biggest natural gas producer, will probably see lower gains in Europe for at least four years as weaker oil prices and rising competition threaten to further cut its profits, a government forecast showed.

U.S. shale oil producers, having weathered the worst price plunge in their industry's brief history, now face a dilemma: whether to stay in a defensive crouch after slashing their rig fleets, or start drilling more wells to capture a partial recovery in prices.

The US and EU sanctions are primarily targeted at the country's oil industry, for very obvious reasons. Russia provides about 30% of Europe's gas, so it's simply not in the EU's interests to compromise Gazprom's ability to produce and export gas.

LNG is expected to surpass iron ore as the second most valuable physical commodity after oil this year, according to analysts at Goldman Sachs, who predict it will top $120bn.