LONDON / Reuters Global supply and demand for crude oil will be largely balanced next year, as growth in consumption helps erode a three-year-old overhang of unused fuel and should mostly offset a steep rise in output, the International Energy Agency said. In its monthly oil market report, the Paris-based IEA said it continues to see global demand for crude …

Bloomberg Oil climbed to the highest level in two weeks as dwindling US crude stockpiles and near-record Chinese imports signaled the worldwide glut is eroding. Futures advanced 1.7 percent in New York, posting the biggest weekly gain in a month. In China, the world’s second-biggest oil market, crude imports in September jumped to the second-highest on record. US oil inventories …

LONDON / Reuters China has built its crude oil stockpiles at a record pace in 2017 and while its purchases could tail off towards the year-end, inventories could hit the billion-barrel mark in six months, the International Energy Agency said. China has spent around $24 billion on building its crude reserves since 2015, at an average of $50 a barrel, …