CNBC | Op-Ed: Oil traders are getting ahead of themselves. Reality is about to 'rear it's ugly head' CNBC Oil prices have spiked once again on the news that Saudi Arabia and Russia have agreed that the current oil cut needs to remain in place beyond this year. On one hand, this is good news because we are looking at a situation where we won't have to worry ... The Oil Outlook Turns Bearish Oil price rises as Russia and Saudi Arabia back supply cut As Their Clout Wanes, Saudi Arabia and Russia Extend Oil Production Cuts |