The international benchmark fell to its lowest point since 2021 after a decision by Saudi Arabia and other producers to pump more crude surprised the markets.

Oil prices declined for a third day on Wednesday after U.S. crude oil stocks posted a larger-than-expected build, adding a further headwind as investors worried about OPEC+ plans to proceed with output increases in April,

Oil-exporting states have been under pressure from US President Donald Trump to slash prices, though analysts have said the move was pre-planned.