Hedge funds are the most bullish on oil in almost a year as the U.S. shale boom unravels and demand for gasoline strengthens. Signs that producers won’t be able to sustain a supply glut are intensifying, with the International Energy Agency calling a bottom for the price rout. U.S. output is near a 15-month low as companies from Anadarko Petroleum Corp. to Chesapeake Energy Corp. cut jobs and park rigs to conserve cash, while several missed debt payments. Meantime, U.S. gasoline consumption rose to the highest on record for this time of the year. WTI crude has climbed nearly 50 percent from a 12-year low on Feb. 11. Prices may have passed their lowest point, the IEA said. U.S. production will drop to the lowest level since 2013 next year, according to the Energy Information Administration. “We’ve got the bottom in for oil,” said Bill O’Grady, chief market strategist […]