Oil benchmark Brent decreased on Wednesday as worries about a global economic slowdown overshadowed supply cuts announced by crude oil exporters Saudi Arabia and Russia. Brent crude was down 0.8% at $75.61 a barrel, while US West Texas Intermediate crude traded at $70.71, up 1.3% from Monday’s close. Business surveys have shown a decline in global factory activity, reflecting sluggish demand in China and Europe. Attention is also focused on interest rates, with US and European central banks expected to increase rates further.