Oil Slides Back Below $16 on Glut While Producers Start Cuts

Oil Slides Back Near $15 on Glut While Producers Start Cuts
Trucks pass crude oil storage tanks outside Midland, Texas, U.S. (Photographer: Matthew Busch/Bloomberg)

Oil Slides Back Near $15 on Glut While Producers Start Cuts

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(Bloomberg) -- Oil resumed its decline to trade near $15 a barrel as swelling global crude stockpiles made it more difficult for leading producers to balance the market by curbing output.