Oil pared an early decline as OPEC+ may resist mounting pressure this week to boost production at a faster clip, and traders looked beyond China’s release of fuel reserves to quell shortages. Global benchmark Brent was 0.3% weaker after recouping more than half its intraday loss. Speaking after a Group of 20 summit in Rome Sunday, President Joe Biden criticized Saudi Arabia and Russia for their inadequate response to managing supply, while declining to say what he planned to do if producers didn’t respond. Key time-spreads pointed to a tight global crude market. Earlier in the weekend, China said it would release reserves of the two transport fuels to combat shortages, according to the National Food and Strategic Reserves Administration. The move is a part of an annual rotation of holdings, but the state body gave neither volumes nor a schedule. Crude has soared this year as the global […]