Investing.com - Oil prices slid on Wednesday after top exporter Saudi Arabia ruled out production cuts and data showed a build in U.S. crude stockpiles.
U.S. crude fell 3.01% to $30.91 per barrel at 09.34 GMT.
International Brent futures were down 2.4% at $32.45 a barrel.
Saudi Arabia's oil minister said on Tuesday that a coordinated production cut was not going to happen.
Industry data on Tuesday showed that U.S. crude inventories rose 7.1 million barrels last week, far above expectations of a 3.4 million barrel rise.
The U.S. Energy Information Administration was report official inventory data later on Wednesday.