Oil headed for a second weekly decline as expanding U.S. crude stockpiles exacerbated a global glut. Futures were little changed in New York and poised for a weekly decline of 3.9 percent. Inventories expanded for a fourth week through Oct. 16, keeping supplies more than 100 million barrels above the five-year seasonal average, data from the Energy Information Administration showed Wednesday. OPEC is unlikely to adjust its production quota, according to Ryan Lance, chief executive officer of ConocoPhillips. Oil failed to sustain a rally above $50 a barrel earlier this month amid signs the surplus will persist as the Organization of Petroleum Exporting Countries pumps above its target and Iran prepares to raise exports once sanctions are lifted. U.S. crude stockpiles rose by 8.03 million barrels, the EIA said this week, the biggest jump since April and more than twice the forecast increase. “The bottom line is there’s still a lot of supply,” Michael Poulsen, oil risk manager at Global Risk Management Ltd. in Middelfart, Denmark, said by phone. “Prices will likely stay at these levels, with a dollar or two movement either side.”