Opec has been trying to cut global supply but US provides counterbalance

Output curbs by Opec, Russia have supported recent price gains

Prices weather hurricanes, Middle East conflict and tussle between Opec and US shale

Gulf Coast refiners ramp up crude processing after disruptions from Hurricane Harvey

Record flooding in Texas, cripples 4.4m daily barrels of refining capacity

Oil inventories drop by 9.2m barrels while output from Libya rebounds

Longest rally this year falters as Russia signals opposition to further Opec cuts

Rising US oil output contributing to ineffectiveness of Opec-led cuts

Concern mounts that rising US output will counter reduction by Opec

Market torn as new report suggests US production is still climbing

Futures slide despite Opec production cut as US oil output looks set to surge

Countries had agreed cuts in order to reduce the global supply glut depressing prices

‘Market has to take a lot on faith’ that producers’ agreement will reverse oversupply

Strong dollar also weighs on prices ahead of US Thanksgiving holiday

Opec move to limit production this month deemed unlikely

Biggest weekly loss of year on cards as investors ignore talk of Opec production freeze

Fuel inventories in the US, Europe and Asia are brimming despite being peak summer driving season

Global markets, including commodities, have been on tenterhooks for weeks

Crude down more than 5 per cent since hitting 2016 highs of nearly $53 a barrel

Oil has almost doubled from wintertime lows on news of unplanned supply interruptions