Oil supply cuts by key producers could have negative implications for markets, the head of the International Energy Agency said on Monday, appealing to market players to use “common sense”. IEA chief Fatih Birol, speaking at a news conference with central European energy ministers in Bratislava, said markets were currently well supplied but spare capacity in Saudi Arabia was thin and cuts by key players could tighten markets. “Currently markets are very well supplied but we should not forget that spare capacity in Saudi Arabia is very thin, therefore cutting the production significantly today by key oil producers may have some negative implications for the markets and further tightening the markets,” he said. “My appeal to all producers and consumers […]