Global benchmark Brent was down nearly 3% on Wednesday, recovering slightly from a three-year low hit earlier in the session, after U.S. crude oil stockpiles posted a larger-than-expected build, adding a further headwind as investors worried about OPEC+ plans to increase output in April and U.

U.S. crude oil inventories rose by 3.6 million barrels last week, which was more than expected, resuming an upward trend after a surprise drawdown the week before.

Global benchmark Brent crude slumped to a more than three-year low on Wednesday, after U.S. crude oil stockpiles posted a larger-than-expected build, adding a further headwind as investors worried about OPEC+ plans to increase output in April and U.