The Organization of the Petroleum Exporting Countries and allies led by Russia, collectively known as OPEC+, meet on Wednesday at 1500 GMT to set policy.
The comments from sources came as experts from the OPEC+ joint technical committee presented an updated report on the state of the oil markets in 2021-2022. Initially, the report had seen a surplus of 2.5 million bpd building in 2022 but it was later revised to a smaller surplus of 1.6 million bpd, according to the sources.