CBC.ca | Oil price up 4% to $47 as EIA shows crude inventories finally dropping CBC.ca The oil market has been massively oversupplied for months as U.S. shale producers flooded the market with new product in a time when the global economy is slowing. That has dragged down prices from over $100 a barrel last summer to less than half that ... Oil Surges the Most in Two Weeks After U.S. Inventories Decline Crude Oil Price Dips on Jump in Gasoline Inventories Oil surges on drop in US stockpiles |