WTI back up to $44.50 WTI crude just rebounded nearly $1 on a denial from Barkindo that Saudi Arabia threatened to raise output if Iran didn't freeze production. Earlier oil dripped on a report that Saudi Arabia threatened to steeply raise oil output at last week's technical OPEC meeting in Vienna. The meeting ended with Iran and Iraq refusing to freeze production and that set the stage for a 10% drop in oil prices in the past 5 days. (full story)