Oil traded near US$40 a barrel amid signs of discord in the Organisation of Petroleum Exporting Countries before a meeting in Vienna to discuss production policy.Futures rose as much as 0.8% in New York after Wednesday’s 4.6% slump. A majority of Opec members agree on a supply cut, with the exception of Saudi Arabia and Gulf Arab countries, according to the Iranian oil ministry’s Shana news agency. US crude inventories expanded by 1.18 million barrels for a 10th weekly gain, an Energy Information Administration report showed.Oil has declined 39% since Saudi Arabia led Opec’s decision in November last year to maintain output and defend market share against higher-cost shale producers. As ministers gather for their bi-annual summit Friday, there’s a lack of agreement on how to manage supply and stabilize the market, Shana reported, citing Mehdi Asali, the director-general of Opec and energy forums at the ministry in Tehran.“The market is expecting a no-change policy from these big oil producers,” Mark Pervan, the head of commodity research at Australia & New Zealand Banking Group Ltd. in Melbourne, said in a Bloomberg Television interview. “It would be a surprise if they were to cut.”