The latest mission by OPEC and its partners to contain a crude oil glut is entering its most critical phase. Saudi Arabia, Russia and other major crude exporters have struggled to keep a surplus in check over the past six months. But oil prices remain stuck below levels most of the coalition need to fund their economies. The coalition’s best chance to tame the oversupply may be this quarter, when oil demand hits an annual peak. After that, world markets enter a weak patch through the winter into 2020. If OPEC and its allies can’t deplete inventories, their primary measure of success, it’ll be hard to avoid the conclusion that their strategy is a bust. Q3 Is Pivotal For Oil “The third quarter is the optimal window to put a significant dent into global inventories,” said Michael Tran, a commodity strategist at RBC Capital Markets LLC in New York. […]