OPEC members have disparate agendas and will unlikely reach an agreement on anything, says Martin Place Securities' Barry Dawes.
Longstanding tensions between Saudi Arabia and Iran will hold OPEC back from an oil production freeze in the near term, analysts said.
OPEC does not want to give the markets any negative signals but Saudi Arabia-Iran consensus remain a key issue, says Energy Aspects' Virendra Chauhan.
Saudi Arabia is actually well-positioned to reduce overproduction as it is near maximum output, says Argus Media's Alejandro Barbajosa.
Oil prices rose in mixed trading on Wednesday, after losses in the previous session, as industry data showed a surprise draw in U.S. crude stocks.
The OPEC meeting in Algeria may not have resulted in a resolution as of Tuesday, but at least one person is optimistic.
The slump in energy prices means oil-producing countries face a “clear need” to diversify their economies and improve competitiveness, WEF says.
The commodity's prices could quickly dive to $40 or lower if OPEC members leave Algeria on Wednesday without any promise of a deal.
"Fast Money" trader Dan Nathan shares his bullish bet on the XLE ETF in the options market. The "Fast Money" traders weigh in.
Kent Moors, Energy Capital Research Group, shares his forecast on oil following the API oil inventory data release of its unexpected drawdown.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
Discussing the current state of the markets with David Kelly, JPMorgan Funds; Stephen Guilfoyle, Stuart Frankel; and CNBC's Rick Santelli.
Jeff Currie, Goldman Sachs Head of Commodities Research, discusses his market forecasts for oil, gold and the dollar.
Oil fell after Saudi Arabia said it did not expect to agree on output cuts at a meeting with other producers in the Algerian capital.
Jeffrey Currie, Goldman Sachs Head of Commodities Research, discusses cutting his year-end forecast for oil and the OPEC meeting in Algiers.
The S&P 500 energy sector shed more than about half a percent on Tuesday amid concerns about a supply glut.
This news comes a week after Icahn more than halved his stake in the natural gas producer.
A freeze in production by OPEC members would not include Nigeria, according to the country's oil minister.
China's stock of oil reserves could prove to be the "wild card" for global oil prices and market dynamics, according to oil experts.
U.S. investment bank Goldman Sachs has lowered its forecast for the price of oil price.
Get the best of CNBC in your inbox