Oil prices fell about 1 percent on Monday following reports of disputes among OPEC+ members on their production quotas next year.
Benchmark Brent crude futures dropped 0.9 percent to $79.78 a barrel, while WTI crude futures were down about 1 percent at $74.80.
The oil market is facing uncertainty ahead of the delayed meeting of OPEC+ on Nov. 30.
Oil producers are struggling to come to a consensus on reaching an agreement to curb supplies into 2024.
The meeting that had originally been slated for Sunday was postponed from Nov. 26 after African members like Angola, Congo and Nigeria refused to accept the supply cuts proposed by Saudi Arabia and Russia.
If latest reports are to be believed, the group has since moved closer to a compromise, with Saudi Arabia and Russia expected to roll over voluntary supply cuts into early 2024.
