Oil prices dropped early on Friday, on course to finish their worst month since 2008, as fears of oversupply and slowing demand growth dragged oil down into a bear market in November with prices off by some 30 percent from four-year highs in early October. At 07:10 a.m. EDT on Friday, WTI Crude was down 1.81 percent at $50.52, and Brent Crude traded down 1.47 percent at $59.03. On Thursday, oil prices jumped on reports that Russia had conceded that it needs to reduce oil production and join a new Saudi-led OPEC cut to balance the market. The rise didn’t last long—prices headed down again on Friday, pressured by rising U.S. oil production and comments by Russia’s Energy Minister Alexander Novak, who said in an interview with the TASS news agency that “To me, the current price range is comfortable for producers and consumers.” Earlier this week, Russian President […]