Oil prices fall as OPEC considers output increases

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.