Reuters | Oil prices edge up from near seven-year lows as China oil imports surprise Reuters "The decision by OPEC members to keep oil production output at record high levels ... suggested that the organization was effectively abandoning its long-term strategy of limiting production and acting as a cartel, leading to more downward pressures on ... How to trade crude oil's downward spiral Oil tumbles to lowest level in 7 years Oil falls below $38 a barrel to seven-year low |