U.S. crude, gasoline stocks dropped less than industry tally OPEC’s production declined in October from September Oil settled near an eight-month high after a closely watched U.S. government report showed smaller-than-expected declines in domestic crude and gasoline stockpiles. Futures closed down 0.2 percent in New York after earlier topping $55 a barrel for the first time since early January. The government’s tally of oil and gasoline held in U.S. storage tanks failed to register withdrawals as large as those reported by the industry-funded American Petroleum Institute on Tuesday. The federal figures released on Wednesday “came in not quite as strong as API, which was extremely bullish,” Brian Kessens, who helps manage $16 billion in energy assets at Tortoise Capital Advisors LLC, said by telephone. A 5.2 percent October rally in the benchmark U.S. crude grade was largely fueled by the determination of Saudi Arabia, Russia and other major oil […]