The debate among the world’s biggest oil nations over whether to freeze production is beginning to be overtaken by a rapid slide in output around the world. On Tuesday, as traders looked to a weekend meeting on output in Doha, Qatar , the government said U.S. production dropped in March and will likely continue falling. The combination amounted to a double-shot of adrenaline for an oversupplied market, driving oil prices to their highest point this year. The price of U.S. oil jumped 4.5% to $42.17 a barrel, its highest price since November. For weeks, oil markets have been preoccupied with the likelihood of an agreement being reached in Doha. Helped by speculation of a deal led by Russia and Saudi Arabia, the world’s two biggest producers, oil prices have recovered by almost one-third from […]