Oil prices caught in a trance above $50 a barrel are set for a jolt as evidence on pledged output curbs from OPEC and other producing nations hits the market over two sessions. The International Energy Agency and OPEC will publish their monthly oil market reports on Friday and Monday, respectively, which will provide their first full-month production and inventory data since the group’s decision to cut supply took effect on Jan. 1. Tanker-tracker Petro-Logistics SA estimated late last month that OPEC had implemented about 75 percent of cuts, while a Bloomberg survey predicts the group is about 60 percent of the way toward its target . “The goal of the agreement is to reduce global inventories, so we’ll need to see evidence of that occurring,” said Daniel Hynes, an analyst in Sydney at Australia & New Zealand Banking Group Ltd. “There are some that see OPEC doing more […]