Oil flipped between gains and losses ahead of an OPEC+ meeting on Monday to discuss production policy amid a rapidly tightening market. Futures in New York were little changed and remain near $76. The Organization of Petroleum Exporting Countries and its allies are unlikely to add more than their planned volume of 400,000 barrel a day of output in November, according to Amrita Sen, chief oil analyst and co-founder of consultant Energy Aspects. OPEC+’s modeling is showing demand will outstrip supply over the next two months. The market has tightened significantly recently following a robust rebound in demand from economies recovering from the pandemic and supply disruption in the Gulf of Mexico due to Hurricane Ida. Surging natural gas prices ahead of winter have also raised the prospect of higher volumes of oil products being consumed in power generation, potentially boosting overall demand. “I’m not saying they won’t add […]