International benchmark Brent crude futures were trading at $60.62 per barrel at 0117 GMT, down 22 cents. West Texas Intermediate crude futures were at $26.96 per barrel, down 49 cents and within a dollar of the $26.19 a barrel 2003 low from January. Inventories at the Cushing, Oklahoma delivery point for U.S. crude futures rose to an all-time high just shy of 65...» Read More
Mohshin Aziz, Aviation Analyst at Maybank Investment Bank, explains why certain airlines will benefit more than others, such as Cathay Pacific, Singapore Airlines and Thai Airways.
William Ma, Deputy CIO at Gottex Penjing Asset Management, says the firm may allocate more funds to oil importing countries like India as a result of sinking oil prices.
Dominic Bunning, FX Strategist at HSBC, says the Canadian dollar is likely to fall against the dollar. He also recommend going short on the Malaysian ringgit and going long on the rupee.
Taimur Baig, Chief Economist for Asia at Deutsche Bank, warns countries like Australia and Malaysia rely on commodity exports and could be hurt from lower oil prices.
David Hewitt, Co-head of Global Oil & Gas Equity Research at Credit Suisse, says OPEC is facing an economic conflict with U.S. shale producers.
Andrew Cowen, Deputy CEO at Hong Kong Express, says oil makes up about 45 percent of costs so the commodity's recent decline translates into higher profits ahead.
Peter Harbison, Executive Chairman at CAPA - Center for Aviation, describes how the massive fall in fuel prices will likely result in higher revenues for airlines.
Philippe Gudin De Vallerin, Chief European Economist at Barclays, says Europe needs better integration of fiscal policies and a better political union.
Paul Gruenwald, Chief Economist for Asia Pacific at S&P's Ratings Services, discusses whether the recent decline in oil prices is structural and explains Asia's main challenges next year.
Neil Beveridge, Senior Oil Analyst at Sanford C. Bernstein, says OPEC's decision not to cut output is triggering a glut of supply and may result in bankruptcy for U.S. shale producers.
Kerry Series, Founder and CIO, Eight Investment Partners, says recent declines in oil prices are stimulatory for the global economy.
David Lennox, Resources Analyst at Fat Prophets, says the next few OPEC output reports may show a different story to rhetoric at Thursday's meeting. Richard Martin of IMA Asia joins in the discussion.
Richard Martin, Managing Director at IMA Asia, says U.S. oil can drop sink below $60 in the near-term. In Asia, prices are dependent on China, he warns.
Nigerian oil minister Diezani Alison-Madueke, says OPEC and non-OPEC members need to come together to reach an equilibrium on oil prices.
OPEC will cut oil production at its meeting on Vienna on Thursday, Johannes Benigni, founder and managing director at JBC Asia says, adding that if it delays a cut, the cartel will lose credibility.
Neil Atkinson, head of analysis at Lloyd's List Intelligence, says OPEC members are unlikely to cut oil production at this meeting, but this will push the price of the commodity lower.
Speaking to reporters at the OPEC meeting in Vienna, Bijan Zangeneh, Iranian oil minister, says there is more oversupply in the oil market to come.
Alejandro Barbajosa, Vice President for Crude Middle East & Asia-Pacific at Argus Media, says an agreement to reduce production to 29 million barrels per day would be a strong signal.
Dennis Gartman, Founder, Editor & Publisher of The Gartman Letter, says OPEC won't reduce output since members need high levels of cash flow in order to fulfill promises to citizens.
Tim Condon, Head of Research for Asia at ING Financial Markets, says the lower oil prices are giving governments opportunities to do pro-market reforms in countries like Malaysia and Indonesia.