CNBC | Oil rises, pares losses in January on hopes for production deal CNBC Oil prices rose on Friday, rebounding more than 25 percent from 12-year lows hit last week and cutting losses for the month, on prospects of a deal between major exporters to cut production and curb one of the biggest supply gluts in history. Oil also ... Venezuela seeks support for oil production cuts Oil price jumps as Russia hints at production cuts Don't Count on Russia and OPEC Cutting Oil Production Anytime Soon |