Investors have never loved OPEC so much as Cartel Sticks to Crude Oil Cuts

摘要

New York: Investors are betting big that Organization of Petroleum Exporting Countries's (OPEC's) cuts are real. Money managers are the most bullish ever on West Texas Intermediate (WTI) crude for a second week as signs show Opec and other nations are slashing production. The group cut supply by 840,000 barrels a day last month, according to a Bloomberg survey, and Russia, the largest of the non-members taking part in the deal, reduced output by 117,000 barrels a day. WTI has traded above $50 a barrel for the past seven weeks, encouraging Wall Street investors to fund more drilling in US shale fields.