Analysts are lowering their oil price forecasts despite OPEC’s promise to cut crude production , underscoring widespread skepticism about the cartel and its agreement. After pumping full tilt for the past two years, the Organization of the Petroleum Exporting Countries agreed to reduce production by up to 700,000 barrels a day later this year, its first major agreement since the oil bear market began in 2014. But many analysts are skeptical that OPEC will follow through on a plan set to be completed in Vienna in November, or that the proposed cut will make a big enough dent into the global crude glut. A survey of 13 investment banks by The Wall Street Journal predicts that Brent crude, the international oil-price gauge, will average at $56 a barrel next year, down by more than a dollar from last month’s survey. The banks expect West Texas Intermediate, the U.S. oil […]