Investing.com - Oil prices fell more than 1% on Tuesday, pressured lower by growing doubts that the Organization of the Petroleum Exporting Countries will be able to reach an agreement on a deal to limit output.
U.S. crude oil was trading at $46.26 a barrel at 1012 GMT, down 82 cents or 1.72% from its last close.
Global benchmark Brent futures were down 81 cents or 1.63% at $48.40 a barrel.
OPEC is attempting to get its 14 member states, along with non-OPEC member Russia, to implement coordinated production cuts aimed at reducing a global supply glut that has seen prices more than halve since 2014.
In September the producer cartel reached an agreement that would reduce production to between 32.5 million and 33 million barrels per day.
OPEC is to hold a crunch meeting in Vienna on Wednesday, where the deal was expected to be rubber stamped.
But reaching a deal has proved problematic, amid disagreements over which producers should cut and by how much.
Technical talks between OPEC members on Monday failed to reach an agreement on output cuts, with Iraq and Iran - OPEC’s second and third-largest producers - resisting pressure to cut production.
Meanwhile, Russia’s Energy Minister Alexander Novak said Tuesday he is not planning to attend Wednesday’s key meeting.
Most analysts believe OPEC will sign an accord to reduce output, but doubts remain over whether it will be enough to support the market.
Major importers in Asia, which uses a third of the world's oil supply, have said they'll consider ramping up supplies from elsewhere as OPEC attempts to shore up prices.