OPEC member states reached a preliminary agreement in September, setting the oil output ceiling at 32.5-33 million barrels a day. A number of non-OPEC members, including Russia, have expressed willingness to join the deal. The final decision on the deal will be made on Wednesday in Vienna.
"OPEC fully appreciates the importance of bringing forward the rebalancing of the fundamentals and returning sustainable stability to the market. This will be beneficial to our economies, the global oil market and the world economy as a whole," Sada, the president of the OPEC conference, said in a statement.
He expressed hope that the "positive" talks would lead to a "mutually acceptable solution on the way forward."