Gains in oil production from the United States should establish a ceiling over crude oil prices on the global market, the head of Russia’s Lukoil said Monday. Russia is coordinating with members of the Organization of Petroleum Exporting Countries on a production arrangement aimed at pulling an over-supplied market for crude oil back to balance. After dropping below $30 per barrel in early 2016, oil prices since OPEC’s agreement surfaced in November have been steady above $50 per barrel. U.S. shale oil production gains helped saturate the markets and output from the Lower 48 states has proved more resilient than expected to crude oil prices that are still about half what they were three […]