Total U.S. petroleum deliveries (a measure of demand) rose last month by 5.1 percent from December 2013 to average nearly 20.0 million barrels per day. For the fourth quarter, total domestic petroleum deliveries gained 2.9 percent compared to the same period in 2013.

The US drilling rig count fell 43 units to settle at 1,633 rigs working during the week ended Jan. 23, Baker Hughes Inc. reported.

Eni SpA has made a new discovery of oil and gas in the West Melehia deep exploration prospect, located in the Melehia license, in the Western Desert of Egypt, 116 square miles (300 square kilometers) west of Alexandria.

Russia’s second-largest oil producer Lukoil aims at stabilizing its oil output this year, the company’s CEO Vagit Alekperov said on the sidelines of the World Economic Forum in Davos, Switzerland. “Lukoil aims at stabilizing output throughout Russia in 2015,” Alekperov said.

Russia to continue implementing Arctic oil and gas projects despite Western sanctions and low oil prices, Russian Energy Minister Alexander Novak said

After more than three years of US$100-110 per barrel oil, prices collapsed by nearly 50 percent in late 2014 as the market lost its "manager" after OPEC refused to cut production.

The world’s biggest energy companies are preparing to cut tens of billions of dollars from capital spending as they set out plans this week to respond to the drastic slide in oil prices.

Warming ties between China and Russia are giving a big boost to Chinese imports of Russian oil, to the chagrin of OPEC nations jockeying for a slice of China’s market.

Russia is starting to see a wave of mass layoffs as a result of the plunging economy and needs to rethink where and how fast it spends its reserves, former finance minister Alexei Kudrin said.

Currency depreciation against the dollar affects oil importers and exporters differently

Energy Transfer Partners LP (ETP) and Regency Energy Partners have agreed to merge in a unit-for-unit transaction, plus a one-time cash payment to Regency unit holders, valued at $18 billion, including the assumption of net debt and other liabilities of $6.8 billion.

Saudi Arabia won’t balance global crude markets on its own even as prices fall “too low for everybody” and threaten the investment needed to meet long-term demand, the head of Saudi Arabian Oil Co. said.

OPEC’s secretary-general said oil prices as high as $200 a barrel are possible if producers fail to invest in new supply.

As the world’s oil producers wring their hands over a global glut that’s pushing down prices, evidence is mounting that Saudi Arabia is more concerned about shrinking demand.

Russia's Gazprom plans to supply the first gas via a new route to Turkey in December 2016, Chief Executive Alexei Miller said in a statement on Tuesday.

Oil prices will stay lower for longer after more than halving since June, Goldman Sachs' (GS.N) chief commodity analyst said, arguing in his latest research note that demand growth in China and other emerging economies is set to slow.

Low oil prices might drive surge in restructuring in 2015

Chevron’s $35 billion capital budget down 13% from last year

Shell cuts $15 billion in spending for 2015-17

Natural gas prices drop after storage report