Oil oscillated between gains and losses as an uncertain economic outlook overshadowed signals of a tighter crude market with Iraq pledging to make extra output cuts this month. Iraq will cut production in August by an additional 400,000 barrels a day to compensate for missing its production target in previous months, the state oil-marketing organization Somo said. The pledge from OPEC’s second-biggest producer comes as the Organization of Petroleum Exporting Countries and its allies unwind some of their record output cuts this month. But the path to an economic recovery remains shaky, weighing on U.S. equities and demand for crude oil. Investors are searching for signals as to whether lawmakers are making progress toward a virus relief package. “There’s […]