OPEC is seeing signs of an oil supply surplus building from next month so its members and allies will have to be “very, very cautious” when they review output policy at regular monthly meetings, the group’s secretary-general said on Tuesday. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, is gradually unwinding record production cuts made in 2020 by raising output 400,000 barrels per day per month. OPEC+ holds its next policy meeting on Dec. 2. “The surplus is already beginning in December,” OPEC Secretary General Mohammad Barkindo said on the sidelines of an energy conference, when asked if he was sure there would be an excess in oil supply next year. “These are signals that we have to be very, very careful,” he told reporters. Barkindo declined to say if he thought OPEC+ would stick to existing policy […]