The panel is also unlikely to decide how to distribute the output increase of 1 million barrels per day decided when OPEC and allied producers last met in June, sources said.
International Brent crude oil futures LCOc1 were at $77.67 per barrel at 0651 GMT, up 3 cents from their last close.
International Brent crude oil futures LCOc1 were at $76.14 per barrel at 0625 GMT, down 7 cents from their last close.
OPEC and other oil exporting producers are expected to agree on a mechanism to monitor their crude production before the end of the year, Kuwaiti Oil Minister Bakhit al-Rashidi said on Wednesday.
OPEC, non-OPEC producers seek to avoid major market shocks, the United Arab Emirates’ energy minister told Reuters.
Global supply and demand for crude oil will be largely balanced next year.
The convention will consider the difficulties and challenges facing the OPEC and non-OPEC producers to achieve the highest rates of commitments to the agreement.