An oil worker passes stores of pipe drilling sections in the village of Otrada, Russia. Speculators became the most bullish on oil since June as a meeting of major producers next month may yield an agreement to cap output. Futures surged 11 percent in two days after Qatar’s oil minister said on March 16 that some OPEC members agreed to meet with other producers in April to resume talks on freezing supply. U.S. output sank to a 16-month low as a record decline in drilling started to take hold. The rally accelerated after the the U.S. Federal Reserve reduced its outlook for interest rates, sending the dollar tumbling. “There’s no doubt the market is moving on the prospect of the meeting,” said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. “This could usher in a new phase in cooperation between […]