OPEC and its allies thought they’d be facing a potential crisis of oversupply in the oil market in the early goings of 2020, but instead the assassination of Iranian General Qassem Soleimani has brought its limited spare production capacity back into focus. OPEC officials tell S&P Global Platts that the bloc is prepared to respond to any supply emergency by reversing its production cuts if necessary. OPEC is just starting a new 1.7 million b/d cut accord with Russia and nine other partners that runs through March, of which OPEC has agreed to shoulder about 1.2 million b/d. Factbox: Commodity markets on tenterhooks as Persian Gulf risks […]