HOUSTON: Oil prices fell more than US$2 a barrel on Wednesday, weighed down by an Opec report saying global oil supply will match demand in 2026, marking a further shift from its earlier projections of a supply deficit.

Brent crude futures settled at US$62.71 a barrel, down US$2.45, or 3.76% after gaining 1.7% on Tuesday. US West Texas Intermediate crude finished at US$58.49 a barrel, down US$2.55, or 4.18%, after climbing 1.5% in the previous session.