Group’s output likely to hover near record highs until Nov. OPEC has ‘effectively abandoned its free market policy’ Oil supply and demand could come back into balance earlier than expected next year if OPEC’s agreement to curb output is implemented, the International Energy Agency said. “Our supply-demand outlook suggests that the market — if left to its own devices — may remain in oversupply through the first half of next year,” the IEA said Tuesday. “If OPEC sticks to its new target, the market’s rebalancing could come faster,” according to the agency, which last month said the surplus would persist into late 2017. By agreeing to curb output for the first time in eight years, the Organization of Petroleum Exporting Countries has “effectively abandoned” the free market policy adopted in 2014, the Paris-based adviser on energy policy said in its monthly report. The group has buckled under the pressure […]