Ammon News - Oil prices dipped on Thursday, extending the more than 2% decline of the previous session, as investors awaited a weekend meeting of OPEC+ where producers are expected to consider another increase in output targets.

Brent crude fell 43 cents, or 0.6%, to $67.17 a barrel by 0824 GMT, while U.S. West Texas Intermediate crude shed 44 cents, or 0.7%, to $63.53 a barrel.

Eight members of the Organization of the Petroleum Exporting Countries and allies - known together as OPEC+ - will consider further increases to production in October at a meeting on Sunday, two sources familiar with the discussions told Reuters, as the group seeks to regain market share.

Markets are also awaiting government data on U.S. crude stockpiles due on Thursday, a day later than usual because of a U.S. holiday on Monday, to gauge the strength of demand in the world's biggest oil consumer.

U.S. crude stocks rose by 622,000 barrels in the week ended August 29, market sources said, citing American Petroleum Institute (API) figures on Wednesday.

Reuters