Nigeria said Monday that it eventually will join the rest of OPEC in curbing production and Saudi Arabia agreed to cut oil exports, as Russian Federation and other top producers struggle to find ways to boost oil prices.
Meanwhile, in the USA, weekly figures from energy services company Baker Hughes showed that the number of active rigs drilling for oil declined by 1 to 764 last week, suggesting early signs of moderating domestic production growth.
Meanwhile, Iranian expert Behzad Ahmadi Nia told Trend July 24 that the discussions are focused on forcing Libya and Nigeria to join the oil cut deal.
Ministers from the Organisation of the Petroleum Exporting Countries and some non-Opec producers will gather in the Russian city of St Petersburg later on Monday to discuss the pact to curb output by 1.8-million barrels a day to the end of March 2018.
Alongside Saudi Arabia and non-Opec Russia, the committee includes Kuwait, Venezuela and Algeria - all Opec members, and Oman, another non-Opec participant.
JMMC is due to announce its position later on Monday.
Falih said weaker compliance with cuts by some Opec states and a rise in Opec exports had led to a softer crude price.
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Compliance last month was almost flawless, but "all countries should fulfill their responsibilities by 100%", Novak said in comments carried by state news agency TASS.
Also adding to positive sentiment on oil, were reports suggesting that Nigeria committed to take part in production if it reaches a production level of 1.8m bpd.
Libya has been producing over 1 million bpd, below its capacity of 1.4 million to 1.6 million bpd but near its record high since unrest erupted that toppled former leader Muammar Gaddafi in 2011. The whole meeting will probably revolve around the overwhelming output glut from countries such as Nigeria and Libya.
Output from OPEC rose in May, the first monthly increase this year, a recent survey found.
Meanwhile, OPEC Secretary General Mohammad Barkindo said on Sunday that a rebalancing of the oil market is progressing more slowly than expected, but will speed up in the second half of 2017.
Saudi Arabia is heavily dependent on oil for income and has been suffering since oil prices crashed from more than $100 a barrel in 2014.