U.S. crude production expands to highest level since 2015 Novak says Russia implemented full 300,000 barrel-a-day cut After a rally in the first half of April, oil is set to end the month back below $50 a barrel. Futures are down 2.4 percent this month in New York after slipping 6.3 percent in March. What’s worrying investors is expanding U.S. crude production, which threatens to dilute the impact of OPEC-led supply cuts. While Russia says it has fully implemented its pledged 300,000 barrel-a-day output reduction, analysts are still debating whether the Kremlin would be willing to join OPEC in extending the agreement for another six months. American production has expanded to the highest since August 2015 and Saudi Arabia’s Energy Minister Khalid Al-Falih has acknowledged that the first quarter of curbs failed to bring stockpiles below the five-year average. While the Organization of Petroleum Exporting Countries and its allies […]