Is OPEC its own worst enemy these days?

Crude oil prices hovered around $63 on Tuesday, after a dismal report on consumer confidence. The market hasn’t reacted to Friday’s production cut the way OPEC hoped. Now, before last week’s cut has even gone into effect, the oil cartel’s heavyweights are already talking up the next round of production cuts—giving more grist to oil bears who figure a global recession will kneecap demand for oil.

“We...