Any decision to increase production during Friday's meeting is expected to see crude oil prices fall further.
Opec and its allies reached a preliminary agreement in the face of strong opposition from Iran to boost production by a theoretical 1 million barrels a day - the actual increase will be smaller as several countries are unable to raise output.
The uncertainty heading into today's OPEC meeting has kept numerous major hedge funds on the sidelines for weeks because even with their resources, they have been unwilling to place bets on either side of the market, given the volatility usually associated with an OPEC meeting.
Saudi oil minister Khalid Al-Falih told reporters this morning there would not be an immediate flood of oil into the market, suggesting the impact would not be seen until the end of the summer, the Guardian reports.
President of Nigerian Association for Energy Economics (NAEE), Prof Wumi Iledare urged the federal government to take necessary steps in boosting the country's capacity to produce more.Iledare, who noted Nigeria's current level of production would not favour the country for higher quota, said OPEC understands the oil market dynamics.
While Iran has voiced skepticism in recent days about the prospect of a production increase, on Friday it sounded more flexible on the idea.
Iran's Zanganeh has accused Trump of trying to politicise OPEC and said it was United States sanctions on Iran and Venezuela that had helped push up prices.
Mr Trump has also increased pressure on OPEC to raise production ahead of mid-term elections in the U.S. in November.
Yergin said Saudi Arabia and the United Arab Emirates support the current, tougher US policy toward Iran, Saudi Arabia's rival for influence in the region, and so will want to support Trump's call for higher production and lower prices.
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U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $66.49 a barrel, up 95 cents, or 1.5 percent.
"There is a lot more at stake than just ticking a box and say: 'we got this out of the way", the minister said, nothing that "timing isn't critical for the government of Saudi Arabia".
Brent oil prices were up 1.8% on Friday.
Ultimately, Saudi Arabia persuaded Iran to cooperate with the plan to cut output, following calls from major consumers to curb rising fuel costs.
Zanganeh said he thinks $70 per barrel would be a "very good" oil price.
Oil prices fell 2% after the Saudi minister spoke, before recovering slightly. OPEC, he said, "is not an organization to receive the instruction from President Trump and follow it".
Analysts have called this week's OPEC talks the most fractious and politically charged in years. He tweeted last week - "Oil prices are too high, Opec is at it again".
Still, the minister told reporters that he was willing to have further discussions about production numbers on Thursday, when he will join a meeting of countries - including Russian Federation and Saudi Arabia - that oversee implementation of the cuts.