A senior official at the International Energy Agency on Tuesday said that OPEC is unlikely to reach any agreement that would change the current production cut deal until such a time when the market situation becomes more obvious, according to Reuters . OPEC’s current agreement between its members and allies, known together as OPEC+, is to cut 1.2 million bpd off its combined production per day. Iraq’s oil minister had a more bullish view earlier this week, stating that the oil cartel would consider at the upcoming meeting the possibility of cutting another 400,000 bpd. The reasoning behind the IEA’s lack of faith in OPEC trimming more of the fat to drawn down global inventories is that OPEC has a history, it says, of being reluctant to make changes to how they’re doing things until it is clear that a change would be warranted and beneficial. But with the […]