A portfolio manager pointed out a “unique” market development that could already be helping to tighten global crude inventories, even as major oil producers look to boost output for a fifth straight month.

Oil futures were little changed on Wednesday as investors are wary ahead of a meeting of major producers this week to determine output levels for August.

The crude oil market continues to be somewhat stabile in the early part of Monday, as we are taking a breath after the massive move that we have seen over the last few weeks. With the situation between Iran and Isreal calming down,