Oil prices rallied Wednesday after industry data showed that U.S. stockpiles fell and a Chinese economic gauge showed quicker-than-expected improvement. Adding to the bullish sentiment in crude, Kuwait, a heavyweight in the Organization of the Petroleum Exporting Countries, expressed confidence that players within and outside the bloc will agree to limit their output at a meeting later this month. Brent crude, the global oil benchmark, rose 2.4% to $38.79 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 3.1% at $37.02 a barrel. The American Petroleum Institute, an industry group, said late Tuesday that U.S. crude inventories fell by 4.3 million barrels last week. The U.S. Energy Information Administration will release its official inventory data later Wednesday. Analysts polled by The Wall Street […]