Oil extended its advance to near $50 a barrel as weekly U.S. industry data showed crude stockpiles declined, easing a glut. Futures rose as much as 1.7 percent in New York Wednesday, marking a third day of gains. U.S. oil inventories, which are near the highest in 80 years, dropped by 5.14 million barrels last week, the American Petroleum Institute was said to report. That would be biggest decline since December. The Energy Information Administration is scheduled to release data later Wednesday. Oil has surged more than 85 percent from a 12-year low in New York earlier this year on signs the global glut will ease amid declining supply in Nigeria and non-OPEC countries including the U.S. While some of the world’s biggest producers continue to pump crude at near-record levels, the Organization of Petroleum Exporting Countries is unlikely to set an output target when it meets June 2 […]