CNBC | Oil seesaws as global glut worry offsets US output drop CNBC Oil seesawed on Wednesday as concerns of a growing global supply glut offset optimism in recent weeks about declining U.S. production. Crude futures have lost about 6 percent so far this week, sliding after OPEC reportedly pumped 110,000 barrels per ... Efforts to set a $70 floor for oil might be doomed from the start Oil down again; global glut worry offsets US output drop Oil Prices Fall on Oversupply Concerns |