CNBC | Oil prices stable on expected OPEC cuts, but surging US supply drags CNBC Oil prices were stable on Friday, supported by expected supply cuts from OPEC but held back by record U.S. production. U.S. West Texas Intermediate (WTI) crude oil futures were at $56.5/ per barrel at 0132 GMT, up 12 cents from their last settlement. Russia Isn't Interested In Joining New OPEC-led Oil Output Cuts Putin comfortable with oil price staying close to $70 Volatile times: Oil's implosion is about more than the sanctions on Iran |