Oil extended losses as rising crude stockpiles kept supplies at the highest level in more than eight decades before major producers meet in Doha to discuss freezing output. Futures lost as much as 2.2 percent in New York after falling 1 percent Wednesday. Inventories rose by 6.6 million barrels last week to 536.5 million, the most since 1930, according to government data. The jump was higher than all nine estimates in a Bloomberg survey. Global markets will “move close to balance” in the second half of the year as lower prices take their toll on production outside OPEC, the International Energy Agency said. “Doha is the key event hanging over the market,” Michael McCarthy, a chief strategist at CMC Markets in Sydney, said by phone. “Even if there is an agreement, there are doubts about how it will be implemented. The potential for sustained price gains are limited while […]