Bloomberg OPEC could extend its oil supply-reduction pact with non-members or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level, OPEC sources said. The group, together with Russia and other non-OPEC oil producers, agreed late last year to cut output by 1.8 million barrels per day (bpd) to reduce a price-sapping …

  Bloomberg Kuwait is sticking with plans to add half a million barrels a day of oil-production capacity as it prepares for the eventual expiration of the output quotas OPEC adopted to help drain a global oversupply, the head of Kuwait Oil Co. said. State-run KOC plans to raise the Gulf nation’s capacity from its current level of 3.15 million …

  Bloomberg Israel’s annual consumer price index rose in January for the first time since 2014, finally turning positive after two years of record low interest rates. The index rose 0.1 percent in January from a year earlier, having declined on an annual basis for 28 months, Israel’s Central Bureau of Statistics said in a statement on Wednesday. Economists in …