Oil prices stabilize but market remains weak on ongoing glut

By Henning Gloystein SINGAPORE (Reuters) - Oil prices on Monday made up ground from steep falls in the previous session but analysts said oversupply meant the market remained weak. Despite Monday's gains, analysts said that market conditions remained weak due to an ongoing glut. "Crude stocks in the U.S. are at record highs and production is also at or near records and remains way above daily demand, so freezing production at current levels won't reduce the glut, but will actually add to it furt