Speculators raised bullish oil bets for the first time in five weeks as producers curbed new drilling. Hedge funds and other money managers increased net-long positions in West Texas Intermediate crude by 2.7 percent in the week ended Feb. 17, U.S. Commodity Futures Trading Commission data show. Futures rose 7 percent in the report week as companies including Total SA and Apache Corp. said they would cut spending and drill less. The number of oil rigs in the U.S. tumbled 35 percent since Dec. 5 to the fewest since 2011, according to Baker Hughes Inc. Outlays for exploration and production will drop by more than $116 […]