*

OPEC+ to consider raising oil production further, sources

say

*

OPEC+ meeting set for Sunday

*

US crude stocks rose last week, sources say

By Sam Li and Trixie Yap

Sept 4 (Reuters) - Oil prices slid on Thursday,

extending a decline of more than 2% in the previous trading

session, as investors and traders look ahead to a weekend

meeting of OPEC+ where producers are expected to consider

another increase in output targets.

Brent crude fell 27 cents, or 0.40%, to $67.33 a

barrel by 0114 GMT, while U.S. West Texas Intermediate crude

fell 28 cents, or 0.44%, to $63.69 a barrel.

Eight members of the Organization of the Petroleum Exporting

Countries and allies - known together as OPEC+ - will consider

further increases to production in October at a meeting on

Sunday, two sources familiar with the discussions told Reuters,

as the group seeks to regain market share.

The prospect of OPEC+ raising output has increased ahead of

the meeting, said Phil Flynn, a senior analyst with Price

Futures Group. Traders had expected no change from the group.

OPEC+ had already agreed to raise output targets by about

2.2 million barrels per day from April to September, in addition

to a 300,000 bpd quota increase for the United Arab Emirates.

Over the past few months, despite the accelerating

production increases, Middle Eastern oil prices have remained

the strongest regional prices globally. This has bolstered the

confidence of Saudi Arabia and other OPEC members to boost

output, according to a Haitong Securities' report.

Market participants now await government data on U.S. crude

stockpiles, due on Thursday, a day late due to a U.S. holiday on

Monday. U.S. crude stocks rose by 622,000 barrels in the week

ended on August 29, market sources said, citing American

Petroleum Institute (API) figures on Wednesday.

The API estimate for a U.S. build in crude stocks went

against analysts polled by Reuters who estimated, on average,

that U.S. crude inventories fell by 2 million barrels.