Bloomberg Oil made the biggest annual gain since 2009 as OPEC and other producing nations plan to start supply cuts next month to reduce swelling global inventories. Futures rose 52 percent in London this year after closing little changed on Friday. US crude inventories unexpectedly expanded for a second week with a gain of 614,000 barrels last week, the …

Bloomberg Investors are showing no sign of turning their backs on oil heading into 2017. Money managers’ wagers on rising West Texas Intermediate crude prices are triple what they were at the end of 2015, and are the highest since the start of the crude market crash 2 1/2 years ago. Crude futures settled at the highest in almost 18 …

  Bloomberg Saudi Telecom Co. is working with JPMorgan Chase & Co. to evaluate options including increasing its stake in Turkish telecommunications investor Oger Telecom, according to people familiar with the matter. The Riyadh-based firm could buy a stake in Oger Telecom from Saudi Oger, which holds 65 percent, to boost its current holding of 35 percent, said the people, …