Newsweek | Oil Prices Plunge With US Production Soaring Newsweek After spending much of 2016 near multiyear lows, oil prices began to rally in late November as it became clear that OPEC would finally cut production to address a long-standing oil glut. On Nov. 30, the cartel officially announced that its members ... Fresh statements on oil may not impress traders Opec be warned! Russia seeing oil at $40 does not bode well for crude market Oil edges up as Saudis cut supplies to US, but global glut remains |