* OPEC members still disagree over who should cut and how
* Non-OPEC member Russia so far not participating in
* High oil price volatility expected in 24h ahead of meeting
By Henning Gloystein
SINGAPORE, Nov 29 Oil prices fell early on
Tuesday on doubts that producer cartel OPEC will be able to
hammer out a meaningful output cut during a meeting on Wednesday
to rein in a global supply overhang and prop up prices.
International Brent crude oil futures were trading
at $48.10 per barrel at 0102 GMT, down 14 cents, or 0.3 percent,
from their last close.
U.S. West Texas Intermediate crude futures were down
19 cents, or 0.4 percent, at $46.89 a barrel.
The Organization of the Petroleum Exporting Countries (OPEC)
is meeting officially in Vienna on Wednesday to discuss a
planned production cut in an effort to curb overproduction that
has dogged markets and more than halved prices since 2014.
With a high degree of uncertainty going into the last 24
hours before the meeting, oil price volatility is expected to be
"We expect intra-day volatility to ratchet higher again into
tomorrow, with price action being entirely headline driven,"
said Jeffrey Halley, senior market analyst at OANDA brokerage in
There remains disagreement among OPEC-members over which
producers should cut by how much, and a plan to bring non-OPEC
oil giant Russia to participate has so far also failed.
(Reporting by Henning Gloystein; Editing by Richard Pullin)