Saudis say discussions may include action to stabilize prices Speculators boost bullish WTI crude bets most since January All it took was a few words from OPEC to encourage oil bulls. Money managers increased wagers on rising crude prices by the most since January as futures rebounded from a three-month low. Prices jumped after OPEC’s president said Aug. 8 the group will hold informal talks in Algiers next month and Saudi Arabia signaled Aug. 11 it’s prepared to discuss taking action to stabilize markets. “The statement certainly achieved its purpose,” said Daniel Yergin, vice chairman of IHS Markit. “The Saudis saw bearish bets had really driven down the prices.” Talks between OPEC members and other producers may result in action to stabilize the market, Saudi Arabia’s Energy Minister Khalid Al-Falih said. Members of the Organization of Petroleum Exporting Countries are in “constant deliberations,” according to a statement on OPEC’s […]