Production outside the Organization of Petroleum Exporting Countries will drop by 660,000 barrels a day, the group said Monday in its monthly market report, deepening the decline from its previous estimate by 270,000 barrels a day. OPEC, whose membership increased last month with the return of Indonesia, is oversupplying global markets by about 600,000 barrels a day, according to the report. This is “the year when the rebalancing process starts,” OPEC said. While new projects providing 2 million daily barrels will […]