Reuters Oil advanced as weekly industry data showed U.S. crude inventories declined, trimming supplies that are at the highest seasonal level in at least 30 years. Futures climbed as much as 2.2 percent in New York after rising 5.4 percent the previous three sessions. Crude stockpiles fell by 12.1 million barrels last week, the American Petroleum Institute was said …

  Reuters Iraq has given fellow OPEC members the level of crude production at which it would be prepared to freeze output, according to the top official at the state oil marketing company. The second-biggest producer in the Organization of Petroleum Exporting Countries could support a freeze “for a certain period,” Falah Al-Amri, the director general of Iraq’s Oil Marketing …

Reuters Algeria’s government plans to slash spending by 14 percent in 2017, after a 9 percent cut this year, seeking to adjust to lower energy revenues, according to a government official. It is also considering increasing subsidised gasoline and diesel prices for a second straight year to rein in rising domestic consumption and lower the import bill, the official said. …