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 settled largely unchanged in choppy trade on Thursday, with global benchmark Brent closing below $70 a barrel under pressure from tariffs between the U.S., Canada, and China, and plans by OPEC+ to raise output.

Crude oil finished with another week of losses, as markets were pushed and pulled by OPEC's decision to go ahead with production increases starting in April and uncertainty over U.S. tariffs.