Investors cut bets on oil rally by most in two years: CFTC OPEC production reached 33.69 million barrels a day last month Investors are realizing that OPEC’s talk of a production freeze may not be much of a restraint, as output reached another record. Ahead of informal talks to discuss a potential agreement with major exporters, OPEC’s crude output rose to a new high last month as members from Saudi Arabia to Kuwait boosted production. Money managers slashed bets on an oil rally by the most contracts in two years in the week ended Aug. 30, according to the Commodity Futures Trading Commission. “There’s basically tension in the market,” said Tim Evans, an energy analyst at Citi Futures Perspective in New York. Supply from the Organization of Petroleum Exporting Countries rose by 120,000 barrels a day to 33.69 million in August, just as the group is set to hold […]