Oil investors were confident ahead of the OPEC meeting last week, holding onto their bullish bets, but now there seems to be a bit of an OPEC hangover after weeks of hype. Heading into the meeting, hedge funds and other money managers increased their bullish bets on crude futures, despite already collectively holding a disproportionately bullish set of positions. The week before the meeting, bets on WTI jumped to their most bullish since February, according to Bloomberg . The shift occurred largely because short bets were liquidated, a sign that investors had fled the scene when they realized that OPEC wasn’t bluffing. “There was definitely a consensus that we were going to see a six- to nine-month extension, so to be short in front of that obviously would not be a good positioning for hedge funds,” Nick Holmes, an analyst at Tortoise Capital Advisors LLC, told Bloomberg. “There was […]