Oil prices were little changed on Wednesday ahead of a meeting of OPEC+ producers to discuss a big cut in crude output after gaining more than 3% in the previous session.
Brent crude was up 1 cent at $91.81 a barrel at 0628 GMT, after climbing $2.94 in the previous session.
U.S. West Texas Intermediate (WTI) crude futures fell 9 cents, or 0.1%, to $86.43 a barrel after gaining $2.89 a day earlier.
The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, together called OPEC+, will meet in Vienna later on Wednesday to discuss output cuts of up to 2 million barrels per day (bpd), an OPEC source told Reuters.
A cut of that magnitude would be the biggest by OPEC+ since those made after the COVID-19 pandemic slashed demand in 2020.
The real impact on supply from a lower output target would be limited as several OPEC+ countries are already pumping well below their existing quotas. In August, OPEC+ missed its production target by 3.58 million bpd.
U.S. crude oil stocks fell by about 1.8 million barrels for the week ended Sept. 30, according to market sources citing American Petroleum Institute figures on Tuesday.
