Reuters | Oil steadies below $49 as US drilling threatens longer glut WorldOil (subscription) HONG KONG (Bloomberg) -- Oil steadied below $49 a barrel as U.S. drillers continued to boost activity, countering OPEC's efforts to drain a global glut. Futures were little changed in New York after falling 9.1% last week, the biggest weekly loss since ... Oil touches three-month lows, as US supply swells Oil: “Meet the Frackers” Oil drops to three-month low |