LONDON – Investors in the portfolio were encouraged to return to the oil market by the prospect of production cuts by OPEC and its allies early last week, offsetting some downside on the prospect of an impending recession.

OPEC+ cut pulls hedge funds back into oil market: Kempoil and Gas 360

Source: Reuters

Hedge funds and other money managers bought the equivalent of 62 million barrels in the top six oil futures and options contracts in the week ended Oct. 4, according to regulators’ records.

Fund purchase focused…