Crude oil fell 4 percent on Wednesday after a U.S. government report said stockpiles dropped less than expected, reducing worries over supply.
Crude inventories fell 452,000 barrels to 313.2 million last week, the Energy Department said. It was less than half of analysts' expectations. Imports lowered demand from U.S. refineries, according to the U.S. Energy Information Administration.
Crude oil for January delivery fell $3.80, or 4.02 percent to $90.62 at 2:45 p.m. on the New York Mercantile exchange. Brent crude oil for January delivery fell $2.71, or 2.93 percent to 89.81 at 3:14 p.m. on London's ICE Futures Europe exchange.
Recently expectations that OPEC could move to increase its output have triggered drops in crude prices.