OPEC+ Gulf members are preparing a staged adjustment to crude output through Q3, according to officials briefed on the discussions.
The move follows a second downward revision this year to the IEA's 2026 demand forecast, driven by softer industrial activity in East Asia.
Saudi Aramco, ADNOC and Kuwait Petroleum are expected to coordinate the timing of any cuts to avoid signalling weakness to markets.
Brent traded narrowly in the session as traders awaited the formal communique.