The Atlantic | The Economies Getting Hit by Low Oil Prices The Atlantic Oil prices are still under $50 a barrel due to a glut in production and OPEC's—the cartel of oil-producing countries—price war. Some say that the OPEC is winning: U.S. energy firms have been making cut-backs this summer due to losses from the low prices. Crude oil swings, rice soars from El Nino Futures File: Combo of factors push, pull oil prices |