OPEC Plus, the oil producers’ group, is considering announcing a major cut in production when it meets on Wednesday, according to a person familiar with the thinking of Saudi Arabia, the group’s de facto leader. Such a move, which analysts say is widely expected, would be a blow to the Biden administration, after it lobbied the Saudis to increase output.A cut would also mark a major turnaround in policy for OPEC Plus, which includes Russia. Since the group slashed oil production in early 2020 when demand collapsed because of the coronavirus pandemic, the producers have announced a series of steady monthly increases, though they have generally not met those goals.Analysts say that t …
