SINGAPORE, Nov 27 Reuters Oil prices slipped on Monday, with Brent falling toward 80 a barrel, as investors awaited the OPEC meeting later this week for an agreement to curb supplies into 2024.

Brent crude futures fell 39 cents, or 0.5, to 80.19 a barrel by 0728 GMT, while U.S. West Texas Intermediate crude futures were at 75.10 a barrel, down 44 cents, or 0.6.

Both contracts rose slightly last week, their first weekly gain in five, underpinned by expectations that Saudi Arabia and Russia could roll over voluntary supply cuts into early 2024 and OPEC might discuss plans to reduce further.

Prices tumbled in the middle of last week after the Organization of the Petroleum Exporting Countries and their allies, including Russia, known as OPEC, postponed a ministerial meeting to Nov. 30 to iron out differences on production targets for African producers.

Since then, the group has moved closer to a compromise, four OPEC sources told Reuters on Friday.

ING analysts said market sentiment remains negative given the dispute within OPEC over production quotas, although they expect Saudi Arabia to roll over its additional voluntary cut of 1 million barrels per day into next year.

Clearly, if we do not see this, it would put further downward pressure on the market, given the surplus over 1Q24, ING analysts said in a note.

Ahead of the OPEC meeting, estimated exports by OPEC countries have declined to 1.3 million barrels per day below levels in April, Goldman Sachs analysts…