The OPEC+ group of oil producers will consider cutting output by more than 1 million barrels a day, according to delegates. Stephen Stapczynski reports. Oil surged near $83 a barrel on indications the OPEC+ alliance is considering slashing production by more than 1 million barrels a day to revive plunging prices when it meets this week. A reduction of that magnitude would be the biggest since the pandemic, although OPEC+ delegates said a final decision on the size of the cuts won’t be made until ministers gather in Vienna on Wednesday. West Texas Intermediate rose almost 5%, putting prices on track for the first gain in three sessions. “It is interesting that OPEC+ is considering a production cut already when Brent has hardly touched below $85 a barrel,” said Helge Andre Martinsen, senior oil analyst at DNB Bank ASA. “Most of the OPEC+ players, including Russia, are producing below […]