Markets cautious ahead of Nov. 26 OPEC meeting
Eyes on whether OPEC cuts rolled over or deepened
U.S. government data on stockpiles due Wednesday

LONDON, Nov 22 Reuters Oil prices slipped on Wednesday in quiet preU.S. Thanksgiving holiday trading, as the market awaited news on output cuts from the OPEC producers group and looked for confirmation of a sharp buildup in U.S. crude stocks.

Brent crude futures fell 95 cents to 81.50 a barrel by 1149 GMT. U.S. West Texas Intermediate crude futures were down 92 cents to 76.85. Both benchmarks had lost 1 in earlier trading.

The benchmarks have fallen for four straight weeks, and prices weakened further last week on growing concerns about the demand outlook.

Investors remained cautious ahead of Sunday39;s scheduled OPEC meeting, when the producer group may discuss deepening supply cuts due to slowing global economic growth.

On Monday, both contracts climbed about 2 after three OPEC sources told Reuters the group, the Organization of the Petroleum Exporting Countries and allied producers, was set to consider more oil supply cuts when it meets on Nov. 26.

The upcoming meeting has been the key central focus for oil prices for now, with sentiments shrugging off the sharp build in U.S. crude inventories, said Jun Rong Yeap, a market strategist at IG.

OPEC is likely to extend or even deepen oil supply cuts into next year, analysts have predicted.

To support prices, OPEC and its allies will need to not only extend, but…