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(Bloomberg) Brent oil advanced above $70 a barrel after the OPEC+ alliance forecast a tightening global market ahead of a production policy meeting.Futures in London rose as much as 1.3% after posting a second straight monthly gain. The oil glut built up during the pandemic has almost gone and stockpiles will slide rapidly in the second half of the year, according to an assessment of the market from an OPEC+ committee. The coalition is expected to ratify a scheduled output increase for July when it meets later Tuesday.A robust recovery in the U.S. and Europe has given OPEC+ the confidence that global markets can absorb additional barrels, despite a Covid-19 comeback in parts of Asia and the prospect of more supply from Iran should a nuclear deal be revived. OPEC’s Joint Technical Committee forecast stockpiles will fall by at least 2 million barrels a day from September through December.“There’s some confidence right now improving demand should be able to absorb w

City ofUnited kingdomHowie leeBijan namdar zanganehBloomberg brentMohammad barkindoChinese banking corpTechnical committeeIranian oilOversea chinese bankingGeneral mohammad barkindoIranian oil minister bijan namdar zanganehGlobal marketsBrent oilGlobal marketJoint technical committee