Brent dropped below $116 on Wednesday ahead of an OPEC meeting where members are expected to agree to raise global oil supplies to rein in high prices that have weighed on growth and stoked inflation in the United States, Europe and Asia.

Dollar weakness limited the fall after U.S. Federal Reserve Chairman Ben Bernanke said growth in the world's largest economy had slowed.

Brent crude dropped 95 cents to $115.83 a barrel by 0333 GMT, erasing some of the gains from the previous session. U.S. crude eased 46 cents to $98.63 a barrel.

Regardless of OPEC's decision, top oil exporter Saudi Arabia plans to pump another 500,000 barrels a day this month to reach at least 9.5 million bpd, its highest output for three years, a senior Gulf industry official familiar with Saudi oil policy told Reuters.