The Guardian | Oil price slide weighs on markets, as pound hits two-month low ahead of UK public finances - business live The Guardian Opec's highly publicised production cuts have actually turned into a win for US oil producers. American shale oil firms have raised their own output as the oil price recovered earlier this year, undermining efforts to cut the global glut of oil ... Oil's drop back into a bear market could slow down US drilling Oil Holds Slide Into Bear Market as Libya to US Raise Supply Libya's Increased Oil Production Thwarts OPEC's Reduction Plans |