Citing sources familiar with the matter, Reuters reported on Thursday that the OPEC+ group will likely discuss pausing the oil output hike for January among its options.

OPEC+ will announce its supply policy following the meeting on Thursday.

Market reaction

Crude oil prices continue to edge higher on Thursday as investors continue to unwind their positions ahead of the OPEC+ decision on output strategy. As of writing, the barrel of West Texas Intermediate (WTI) was up 2.2% on a daily basis at $67.15.