OPEC is looking closely at a drop in oil output from Venezuela to see if the loss of supply from the member state warrants action by the group, sources familiar with the matter said. This marks a shift from earlier this year, when OPEC officials downplayed the drop in Venezuelan production. And it follows a rise in prices and a decline in global inventories that is making tighter supply more significant. Falling Venezuelan output due to an economic crisis has helped the Organization of the Petroleum Exporting Countries deliver a bigger cut than intended under its pact with Russia and other producers to curb supplies and remove a global glut. The pact, […]