It has been reported that the world's largest oil exporters are likely to agree to increase their production quotas.
The move could come as early as this weekend in response to the rising price of oil which threatens global economic growth.
The Financial Times says Saudi Arabia appears to have persuaded even reluctant members of the Organisation of Petroleum Exporting Countries to agree an increase of 6%.
The newspaper says OPEC is expected to agree in principle to raise the output ceiling by 1.5m barrels per day when it meets in Amsterdam on Saturday.
