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As Oil Keeps Falling, Nobody Is Blinking

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By ERIN AILWORTH and BRADLEY OLSON

Dec. 6, 2015 6:56 p.m. ET

The standoff between major global energy producers that has created an oil glut is set to continue next year in full force, as much because of the U.S. as of OPEC.

Exporting Countries on Friday again declined to reduce their near-record production of crude. With no end in sight for the glut, U.S. oil closed on Friday below $40 a barrel for the second time this month.

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