Oil dropped the most in two weeks with OPEC+ yet to resolve an impasse on whether to keep raising production at a time when the pandemic threatens demand. Futures fell 1.9% in New York alongside a broader market selloff. Talks between OPEC and its allies will continue for a second day after most members, including Saudi Arabia, opposed Russia’s proposal for another output increase in February, following the 500,000 barrels a day being added this month. “The expectation that there will be a ‘roll-over’ in February of January production levels was an initial boon for oil prices,” Bjornar Tonhaugen, head of oil markets at Rystad Energy, said in an email. However, discord between Russia and Saudi Arabia raises the concern that OPEC+ “will emerge without a clear […]