Wall Street Journal | Oil Prices Rally on Hopes of Production Cuts Wall Street Journal LONDON—Oil prices rallied on Friday, rebounding from a 13-year low the previous day, on speculation of production cuts among some of the world's biggest suppliers. Brent crude, the global oil benchmark, rose 4.6% to $31.43 a barrel on London's ICE ... Oil Volatility Jumps With Record Trading Amid Price Rout: Chart |