OPEC+ sources have said Russia, Iraq, Nigeria and the United Arab Emirates have all to a certain extent expressed interest in supplying the market with more oil in 2021.
"Things are heading towards a compromise," an OPEC delegate said. Two other sources were less optimistic, saying more talks were needed to overcome the differences.
"We understand that there has been tentative progress in discussions between OPEC+ members today and that ministers are inching closer to a compromise that should break the impasse," Energy Aspects said in a note.
Sources have said options now range from a rollover of existing policies to proposals to ease cuts by 0.5 million bpd per month from January.
Energy Aspects said it understood other options include rolling over existing cuts into January and then increased production by 1 million bpd in February-March and by another 1 million bpd in April.
OPEC+ has to strike a delicate balance between pushing up prices enough to help their budgets, but not so much that rival U.S. output surges. U.S. shale production tends to climb as prices rise above $50 a barrel.
Adding to the challenge within OPEC+, Moscow's finances can tolerate lower oil prices than Riyadh's. JP Morgan said in a note it estimated that additional production of 2 million bpd would cost OPEC+ $55 billion in lost revenues in 2021.
(Reporting by Alex Lawler and Ahmad Ghaddar in London and Rania El Gamal in Dubai; Writing by Dmitry Zhdannikov; Editing by Dan Grebler)
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