Prices continue to fall after previous session39;s plunge
Meeting delay stokes expectations OPEC might not deepen cuts
Delay likely to be linked to dissenting African members sources

Nov 23 Reuters Oil prices dipped about 1 on Thursday, extending losses after postponement of an OPEC meeting stoked expectations that the group might not deepen output cuts next year.

Brent crude futures were down 90 cents, or about 1.1, at 81.06 a barrel by 1143 GMT after falling as much as 4 on Wednesday.

U.S. West Texas Intermediate crude slid 86 cents, also about 1.1, to 76.24 after dropping as much as 5 in the previous session.

In a surprise move on Wednesday, the Organization of the Petroleum Exporting Countries and allies including Russia delayed to Nov. 30 a ministerial meeting at which they were expected to discuss oil output cuts.

Producers were struggling to agree on output levels ahead of the meeting originally set for Nov. 26, OPEC sources said, suggesting that the disagreement was largely linked to a trio of African nations.

Angola, Congo and Nigeria were seeking to raise their 2024 supply quotas above the provisional levels agreed at the June meeting of the OPEC producer group, analysts said.

Angola and Congo have been producing below their 2024 production targets. Meanwhile, some estimates suggest that Nigeria has been able to nudge output near or above the target thanks to an improving security situation in the oilrich Niger Delta.

We think Nigeria can be assuaged…