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Oil prices are down nearly 10% over the past month, leading some to wonder if we're set for a resumption of the plunge seen between 2014 and early 2016. Executives at oil companies, however, are optimistic.

West Texas Intermediate crude traded below $50 a barrel after surging U.S. supplies wiped out gains in the three months since OPEC’s decision to cut output.

Oil slumped more than 5% to the lowest close this year after government data showed production cuts from OPEC and other producers have not been enough to reduce U.S. supplies.

Oil dropped to the lowest in more than two weeks amid estimates that U.S. crude and gasoline inventories continue to climb.

Oil futures dipped on Dec. 29 after a surprise build in U.S. crude inventories reversed an advance in prices that had boosted the benchmarks to their highest levels since July 2015.

Oil extended its advance as industry data showed U.S. crude stockpiles declined last week.

Explorers in 2015 discovered only about a tenth as much oil as they have annually on average since 1960. This year, they’ll probably find even less, spurring new fears about their ability to meet future demand.

Mercuria Energy Group has engineered perhaps the most logistically complex trade yet to export U.S. oil since a four-decade ban on sales was lifted.

Oil extended its decline after a government report showed that U.S. crude stockpiles unexpectedly rose last week.

Oil dropped to the lowest close in more than two months as the United States heads to the end of the summer-driving season with ample inventories.