CNBC | Oil turns positive after falling on gloom over glut CNBC Around 1 million to 2 million barrels of crude is being produced globally every day in excess of demand, contributing to a 70 percent fall in oil prices since mid-2014. An agreement struck in February by some big producers, led by Russia and Saudi ... Oil prices ease with supply glut back in focus Oil Prices Ease as Gloom Over Glut Rises Oil Prices Mixed on Increased Stockpiles, Lower Production |