That's odd. Could be an issue with the indentation of the YAML. Assuming you have it saved as otc.yaml, make sure the following prints "LoadBalancer":
kubectl apply -f otc.yaml --dry-run -o=jsonpath='{.spec.http.service.spec.type}{"\n"}'
The other possibility is that some configuration in OTC is preventing you from creating load balancers. Probably worth checking with OTC support to see if that's the case.