Oil investors’ bullish bets on last week’s OPEC meeting paid off. While most analysts weren’t expecting a deal, money managers increased wagers on rising prices by the most since January ahead of the Organization of Petroleum Exporting Countries’ talks in Algiers. Oil capped the biggest monthly gain since April after the group announced Sept. 28 an agreement to limit production for the first time in eight years. “There’s been a lot of skepticism,” said Eric Nuttall, who manages a $130 million (C$171 million) energy fund at Sprott Asset Management LP in Toronto. “OPEC has changed since the last cycle. They’ve just gone through the worst selloff of oil in history. I’m more bullish than I was, and I was bullish before.” Investors increased their long position in West Texas Intermediate crude by 24,131 futures and options, or 8.1 percent, during the week ended Sept. 27, according to the Commodity […]