TIME | OPEC's Middle Finger to the Oil Markets TIME Traditionally, OPEC members have produced about 40 percent of the world's crude oil, but 18 months ago prodigious U.S. production began to eat into its market share. It also created an oil glut that caused prices to decline precipitously from a high of ... Oil Falls to Near Seven-Year Lows Opec bid to kill off US shale sends oil price down to near seven-year low Oil falls to near seven-year low |