Oil Closes Below $50 for First Time in a Year as Glut Fears Grow
A sample of crude oil sits in a glass flask during testing. (Photographer: Andrey Rudakov/Bloomberg)

Oil Closes Below $50 for First Time in a Year as Glut Fears Grow

(Bloomberg) -- OPEC has its work cut out to persuade the market that its output caps will stabilize oil prices -- and U.S. producers aren’t helping.
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