Oil Pessimists Exit as OPEC Cap Talk Spurs Bets Glut Easing
- Speculators cut wagers on lower WTI crude prices by 41%: CFTC
- OPEC, other producers to meet in Algiers on Sept. 26-28
Oil Slides on New Doubts Over OPEC Deal
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Oil investors are turning the car around.
For a second week, money managers slashed bets on falling prices by a record and boosted wagers on a rally. Futures have climbed 23 percent in less than three weeks as some OPEC members raised the possibility of an output freeze amid signs the global glut is easing.