The world’s biggest oil producers including Russia and Saudi Arabia are set to keep pumping crude into a glutted market and forgo coordinated output cuts as OPEC seeks to shut down higher-cost suppliers, analysts at Goldman Sachs Group Inc. said. Efforts by the Organization of Petroleum Exporting Countries to cut output now would be counter-productive as its strategy of preserving market share is starting to work, the analysts, among them Damien Courvalin and Jeffrey Currie, wrote in a report dated Sunday. Benchmark Brent crude has fallen more than 30 percent in the past year as OPEC maintained output amid increased production from non-member states such as Russia and from U.S. shale oil drillers. Eulogio Del Pino, oil minister of OPEC member Venezuela, will meet his Russian counterpart Alexander Novak in Moscow on Monday to discuss ways to boost crude prices. Del Pino will travel afterward to Qatar, Iran and […]