Crude oil futures dropped around 2 percent on Wednesday, heading back towards $30 a barrel as profit-taking wiped out a chunk of the gains notched up in the previous session on hopes for output cuts. Brent crude (LCOc1) had declined 51 cents to $31.29 a barrel by 0308 GMT, after hitting a session-low of $31.20 a barrel. U.S. crude (CLc1) fell 72 cents to $30.73 a barrel, recovering slightly from a session-low of $30.30 a barrel.