Oil prices fell Thursday on reports that OPEC could start pumping more Crude Oil. 

Futures for Brent Crude traded down 2.2 percent at about $113 a barrel. 

That's down from Tuesday when prices hit $125 a barrel.

The drop came ahead of Thursday's meeting between OPEC and non-OPEC oil producers led by Russia. 

The Wall Street Journal reports that some members of the oil exporters' cartel have been exploring the idea of suspending a supply agreement with Russia. 

The move would allow countries such as Saudi Arabia and the United Arab Emirates to step in and ease a supply crunch.

Western sanctions against Russia for its invasion of Ukraine, including import bans, have sent oil prices soaring above $100 a barrel.