WorldOil Trinidad Drilling considers sale as Canadian EandP activity slumps Trinidad Drilling Ltd., which provides contract drilling services in North America and the Middle East, is considering selling itself as years of slumping drilling activity in Canada weighs on revenue. Brent drops from two-week high as U.S. warns of "phenomenal" surge Brent crude fell from a two-week high as the market weighed forecasts for a surge in U.S. production against OPEC’s success in accelerating the pace of draining a global glut. Oil climbs above $62 amid producer promises to support markets Crude climbed above $62/bbl for the first time in more than a week as an alliance of some of the world’s largest oil producers signaled further cooperation to tighten supplies through the end of the year. Once OPEC's oil-price dove, Saudi Arabia takes a harder line For decades, Saudi Arabia was the voice of moderation within OPEC, pushing back against the urging of members like Venezuela and Iran for higher oil prices. That role seems to be shifting. Oil heads for weekly rise as stocks recover, dollar flounders Oil headed for its first weekly increase since last month as rebounding equity markets eased concern about economic growth and a weakening dollar boosted the allure of commodities priced in the U.S. currency. Deloitte: Industry exercises caution with MandA, though trend is changing Deloitte forecasts that although the oil and gas industry may be in love with the recent rise in commodity prices it is still exercising some caution when it comes to MandA activity, but that is changing. Africa's top oil producer poised to give OPEC an output headache Add independent Nigerian drillers to the list of oil producers itching to supply more crude at a time when OPEC and allies like Russia are trying to restrict output and prop up prices. Oil near seven-week low on signs U.S. stockpiles rose a third week Oil traded near its lowest closing level in seven weeks in New York as signs of rising U.S. crude stockpiles fanned concern of a new surge in shale-oil production. Crude resumes slide as shale threat to OPEC-led restraint grows Crude fell for the seventh time in eight days as gushing U.S. shale oil production threatened to drown an OPEC-led effort to snuff out a worldwide glut. IEA says OPEC almost cleared oil glut but shale risk looms OPEC and its allies have almost achieved their goal of clearing an oil glut, but their efforts could be derailed by rising supplies from the U.S. and other rivals, the IEA said.