OPEC’s market influence is expected to grow, but the 12-member group might not return to its pre-recession glory, the International Energy Agency said Tuesday. The Organization of Petroleum Exporting Countries said in its February market report demand for its crude oil should increase as low oil prices put downward pressure on production in U.S. shale basins. OPEC in late November opted to keep production levels static to protect a market share influenced by rising U.S. oil production. The 12-member group still holds considerable influence over the global market, but IEA Executive Director Maria van der Hoeven said its status is waning . “OPEC’s share of global production will indeed grow,” she said in a statement. “But it will not revisit the […]