The odds of an orderly agreement in Vienna significantly increased over the last day or so as Iran appeared to soften its hard line, voicing some openness to a modest increase in production from the OPEC+ group. Saudi oil minister Khalid al-Falih said that the oil market needs more supply because of rising demand and because of the significant outages in several countries. “The market needs more oil than is currently being produced by these 24 countries,” al-Falih told reporters in Vienna. “Ultimately, we will meet the needs of the market. Consumers are asking for more supply in the second half.” But he went on to add that any increase should be done cooperatively with the whole group’s blessing. “We have to be sensitive to all member countries and listen to their desires,” he said. “Some have said, ‘We can’t produce and don’t increase our production limit,’ so I […]