Oil futures were little changed early Thursday, attempting to find their footing after ending the previous session at six-month lows on fears global trade tensions will undercut demand and as traders prepared for an increase in supply from the Organization of the Petroleum Exporting Countries and its allies next month.

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 settled down for the fourth consecutive session 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.