Saudi Arabia says OPEC will maintain its current oil production no matter what—until crude hits $40, Breitling Energy' Chris Faulkner said.
Oil futures plunged on a surge in supplies of U.S. oil and a record level of gasoline.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
Jackie DeAngelis breaks out the playbook for the energy sector in 2015 and looks at how oil & gas will perform in the coming year.
Brad McMillan, chief investment officer at Commonwealth Financial Network discusses what to expect from the U.S. markets today.
Where does oil head from here? Gareth Lewis-Davies, senior oil strategist at BNP Paribas, sees a further drop after the start of 2015, but there will be a improvement, after the "greatest period of stock-building is over" in 2015.
OPEC talked down the oil market, sending crude sharply lower, while warm weather and growing supply battered natural gas prices.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil sold off again today, as traders look for it to move lower. The average gas price in the US is now $2.39.
Oil prices resumed their downward march on Monday after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price.
Every time the oil price looks positive or stable "out comes something negative," says Richard Mallinson, analyst at Energy Aspects.
OPEC's Secretary General Abdullah Al-Badri says he hopes to see a recovery in the price of crude by the end of the second half of next year, with CNBC's Joe Kernen.
Neil Atkinson, head of analysis at Lloyd's List Intelligence, compares the price of oil to "a bungee jump", referring to its volatility in price, saying that the problem is no knowing how many more "bounces" there are in oil until the price is stabilised.
Jonathan Barratt, Chief Investment Officer at Ayers Alliance Securities, expects a risk premium to be built into fuel prices soon and explains why cheaper oil is a double-edged sword for consumers.
Mike Harrowell, Director of Resources Research at BBY, says oil prices could fall to $15-20 a barrel unless Saudi Arabia cuts output to restore market balance.
The United Arab Emirates on Sunday urged oil producers not to raise their output for 2015. John Kingston, Global Director of News, Platts, discusses whether that could solve oversupply woes in oil markets.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil tried to stabilize today on short covering heading into the weekend.
Carnival Cruises earnings have beaten expectations in its fourth quarter, with lower fuel prices being a great help, says David Dingle, UK chairman of Carnival Cruises.
Thomas L. Friedman, The New York Times, discusses how oil is prompting a geopolitical shift in Middle East power structures.
Thomas L. Friedman, The New York Times, weighs in on the global impact of falling crude prices.
Former Shell President John Hofmeister, shares his thoughts on New York's fracking ban, and natural gas as a transportation fuel.