OPEC+ discussions happening ahead of pivotal meetings

Where it stands: Under the current deal struck in April, the group would lessen the joint cuts by 2 million barrels per day starting in January. But the pandemic's spread is still badly blunting demand, leading analysts to predict they'll hold off.

What they're saying: "The oil trading world is expecting, and has likely gambled on, the alliance to scrap plans of boosting its oil production by 2 million bpd from January," Rystad Energy's Bjornar Tonhaugen said in a note this morning.

• Tonhaugen said signals "point to a roll-over of current targets for 3 or 6 months, as OPEC+ ministers know that anything less will lead to a huge disappointment in the market and sub-40 oil prices very quickly."