Hedge funds are betting OPEC won’t do anything next month to keep crude oil above $40 a barrel. OPEC ministers are likely to keep its output quota steady at a meeting on Dec. 4 in Vienna, according to analysts from JBC Energy GmbH and Societe Generale SA. Last November, Saudi Arabia led the group in maintaining production, accelerating a plunge in oil prices. Supply may swell further next year if Iran resumes sales that were halted by sanctions. “We remain at risk of falling into an even deeper hole,” Tim Evans, an energy analyst at Citi Futures Perspective in New York, said by phone. “We might be looking for the supply surplus to continue through 2016 and through the first half of 2017.” Money managers’ net-long position in West Texas Intermediate crude fell 17 percent in the week ended Nov. 17 to the lowest in more than two months, […]