OPEC is set to strike a deal to cut oil output that may boost prices. It may also give itself a bloody nose in Asia, where big buyers are ramping up supplies from elsewhere and say they don't want to pay more for fuel.

The Organization of Petroleum Exporting Countries (OPEC) meets on Wednesday to hammer out a deal to prop up prices that have halved since 2014. As they gather, tanker shipments to Asia from non-OPEC sources like Alaska, Azerbaijan, and the North Sea are growing, according to shipping data in Thomson Reuters Eikon. 

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 Buyers in Asia, which alone uses a third of the world's oil supply, have watched with concern as OPEC suppliers - their biggest - openly discuss propping up prices. With non-OPEC supplies readily available, they say they'll consider exploring new sources if the cartel's price is no longer right. 

"For us, the current price levels look to be appropriate for both sides (buyers and producers)," said Eiichiro Kitahara, Executive Officer at major Japanese refinery TonenGeneral Sekiyu.