CNBC | Oil's 'long liquidation' will keep dragging prices down CNBC On November 30, 2016, OPEC and non-OPEC oil producers agreed to production cuts of 1.8 million barrels per day, hoping that this action would bring the market back in balance and prices would rise. And rise they did, from around $49.44 per barrel on ... The Price of Oil Is Crashing Despite the Trump Bump Oil Drops as US Drilling Growth Threatens to Counter OPEC Cuts Oil falls as investors cut bullish bets on worries over US output |