OPEC has scared short sellers with talk alone: Credit Suisse Verbal intervention without action may backfire: Commerzbank Even as speculation builds over whether OPEC will clinch an output deal with Russia this month, their negotiations are already paying off. Hedge funds and other investors reversed their bets on falling oil prices at the fastest pace in five months after producers said they would meet in Algiers, data from the U.S. Commodity Futures Trading Commission show. While skepticism has grown about whether the Organization of Petroleum Exporting Countries, whose representatives held a flurry of meetings from Moscow to Paris last week, can overcome internal conflicts, speculative short positions in U.S. crude are still 41 percent below their August peak. Oil climbed as much as 16 percent in the weeks after OPEC announced talks in the Algerian capital, extending a rebound from a four-month low. While the desire of Iran and […]