Production declined by 100,000 barrels a day last week: EIA Gasoline inventories fall; crude stockpiles unexpectedly rise Oil rose for a sixth day, its longest run of gains since April, as declines in U.S. crude production and gasoline supplies allayed concerns over a global glut. Futures rose as much as 1.6 percent in New York to the highest in two weeks. U.S. production tumbled by 100,000 barrels a day last week, the biggest drop in almost a year, the Energy Information Administration said Wednesday. The decline was likely driven by field maintenance in Alaska and the impact of Tropical Storm Cindy. Crude stockpiles unexpectedly expanded while gasoline inventories fell a second week. Oil in New York and London tumbled into a bear market last week on concerns that rising global supply will counter output cuts from the Organization of Petroleum Exporting Countries and its partners. U.S. crude inventories remain […]