Brent crude slumped to a four-year low on speculation the Organization of Petroleum Exporting Countries is in no hurry to cut output to reverse a four-month slide in prices. West Texas Intermediate crude also fell. Crude has dropped into a bear market this year amid a global glut. The largest OPEC producers are responding by cutting prices, resisting calls to reduce supply as they compete with the highest U.S. production in three decades. Kuwait’s oil minister said he doesn’t expect the group to trim output at its next meeting in Vienna on Nov. 27. Prices also retreated on plans by Libya to resume pumping at two fields within days. “There’s downward pressure here to the extent that we are not seeing any real signs of an OPEC cutback,” said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on […]