Saudi Arabia’s oil minister Tuesday said U.S. oil production will take time to regain lost ground amid concerns resurgent prices driven by OPEC production cuts could benefit North American rivals. The Organization of the Petroleum Exporting Countries and other low-cost producers decided late last year to reduce their production by nearly 1.8 million barrels a day to boost flagging prices. But oil prices rising above $50 a barrel has...

Source: Wall Street Journal January 17, 2017 10:53 UTC