The Organization of Petroleum Exporting Countries (OPEC) will likely keep production targets unchanged at the group's meeting this Wednesday to offset declining output mainly from Libya, strategists told CNBC.
Despite continued increases in U.S. domestic supply and the possible return of Iranian crude to world markets by late-2014, supply disruptions amongst OPEC members Libya, Iraq and Nigeria will mean the producer group will hold off cutting output targets from its current 30 million barrels a day.
(Read more: Iran oil, energy sanctions still in force: US)
Libya and Nigeria have "big problems" keeping up production which is one reason why OPEC has been producing below its set quota, said Thina Margrethe Saltvedt, senior macro oil analyst at Nordea Markets in Oslo.
This week's OPEC meeting will be a "non-event," Saltvedt concluded, since the group has been producing around its current target of 30 million barrels-a-day "thus I don't see any reason of changing it in the short term."
Analysts estimate oil exports are down to a fifth of the more than 1 million barrels a day Libya used to export until the summer, when occupations by former militia fighters and protesters of oilfields and ports began.
(Read more: Oil prices maybe losing Iranian 'risk premium')
Prime Minister Ali Zeidan has so far failed to negotiate an end to a series of sit-ins and strikes by security guards, civil servants, militiamen and other groups calling for everything from security and autonomy to a greater share of oil wealth, Reuters have reported.