Some oil fields are set to suffer chaotic stoppages despite efforts by OPEC+ to mitigate the impact of coronavirus on global markets, the International Energy Agency warned. “Lockdown measures have caused unprecedented demand declines, whose speed and magnitude greatly exceed the normal market flexibility of supply,” the Paris-based IEA said in a report on Thursday. “Even with attempts at coordinated management, a disorderly production shutdown is likely in some places.” Oil prices are experiencing a historic slump. The international benchmark Brent crude remains near the lowest since 2002, trading just above $20 a barrel in London, while U.S. futures fell briefly below zero last week. Even though OPEC and its partners have announced massive output cuts to offset the losses in demand, producers around the world are still under great stress. Global oil demand is poised to slump by 9 million barrels a day, or about 9%, this year […]