Oil rose near $92 a barrel in New York after Saudi Arabia said OPEC+ may be forced to cut production to stabilize a volatile market. “Extreme” volatility and a lack of liquidity mean futures are increasingly disconnected from fundamentals, Saudi Oil Minister Prince Abdulaziz bin Salman told Bloomberg. That put a floor under prices in a bumpy session on Monday and prompted some Asian refiners to voice concerns about market uncertainty. Oil has seen a tumultuous period of trading since Russia’s invasion of Ukraine in late February upended flows. OPEC+ has reversed all of the output cuts made during the pandemic , but Prince Abdulaziz suggested the cartel may need to tighten production again when it meets next month to discuss supply targets. “Whether cutting OPEC or OPEC+ output after September is justified is debatable,” said Tamas Varga, an analyst at PVM Oil Associates. “Of course, the picture will […]