WATCH: Fereidun Fesharaki of FGE,discusses the possibility of OPEC+ cutting its production by 1 million barrels a day, what the cut will mean for prices and where he sees them heading. Oil rose after its biggest one-day gain since May as the market looked to OPEC+ to deliver a substantial cut in supply. West Texas Intermediate climbed above $84 a barrel after rallying by more than 5% on Monday. The Organization of Petroleum Exporting Countries and its allies including Russia will consider reducing output by more than 1 million barrels a day when they meet on Wednesday, according to delegates. On Tuesday, Saudi Aramco’s chief executive officer warned that that global oil market’s spare capacity is extremely low. “If they don’t do anything, the prices will slide to $80 or lower, the market is bearish,” Fereidun Fesharaki, founder and chairman of FGE, told Bloomberg Television in an interview. “They […]