Oil price at under $82 a barrel ahead of key meeting next week     

Opec+ has been adding 400,000 barrels per day of supply since August, unwinding record output cuts made last year when pandemic curbs slammed demand.

Oil prices slipped, as investors eyed how major producers respond to the US-led emergency oil release designed to cool the market and with Opec now expecting the release to swell inventories.

Brent crude futures slipped 34 cents, or 0.4%, to $81.91 a barrel, in thin trading on the US Thanksgiving holiday.

Opec expects the US release to swell a surplus in oil markets by 1.1m barrels per day. 

The Organisation of the Petroleum Exporting Countries, Russia and allies, together called Opec+, will meet on December 1-2 to set policy.

"The bold move from the oil importers has opened the door wide open for Opec+ to adjust its supply policy downwards at its next [meeting on] 2 December 2021," Rystad Energy analyst Louise Dickson said.

Opec+ has been adding 400,000 barrels per day of supply since August, unwinding record output cuts made last year when pandemic curbs slammed demand.

Three sources told Reuters that Opec+ is not discussing pausing its oil output increases, despite the decision by the US, Japan, India and others to release emergency oil stocks.

Opec members the United Arab Emirates and Kuwait said they were fully committed to the Opec+ agreement and had no prior stance ahead of next week's meeting.

• Reuters