Grant Smith and Elizabeth Low

Government, Business, Fuel

Oil Holds Near $50 as OPEC+ Hesitates Despite Surplus

An oil pumping jack near Samara, Russia, in May 2019. An oil pumping jack near Samara, Russia, in May 2019. (Andrey Rudakov/Bloomberg News)

Oil held near $50 a barrel in New York on signs that OPEC and its allies probably won’t go ahead with a much-touted emergency meeting, even as a global oversupply piles up.

February 10, 2020