The oil industry has an oversupply issue that won't be balancing out soon, Again Capital's John Kilduff says. » Read More
Ahead of the OPEC meeting, CNBC's Steve Sedgwick receives a muted response from Saudi Arabia's oil minister, Ali Al-Naimi.
Investment opportunities could be better elsewhere. Ana Cukic Armstrong, CEO of Armstrong Investment Managers says the recent change in Japan's GPIF policy could have a huge influence on the market.
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.
Don Luskin, Chief Investment Officer at Trend Macro, says technological abundance is collapsing prices in the energy sector, which is hurting major cartels like OPEC.
The idea that the cartel is worried about market share is misleading, says Daniel Hynes, Senior Commodity Strategist at ANZ.
Peter Boockvar, Chief Market Analyst at The Lindsey Group, says Wall Street shares are "extraordinarily overbought" at the moment due to expectations of central bank support.
As oil prices continue to fall, Wall Street is waiting to see if OPEC cuts oil production
CNBC's Bertha Coombs discusses the day's activity in the commodities markets. OPEC will announce a possible production cut tomorrow.
The minister said he is confident the group will reach a unified decision, and that the meeting will last only one day.
Ahead of Thursday's meeting, Daniel Yergin, IHS Vice chairman, says it looks more likely that OPEC will not cut production.
Brent crude oil traded near a barrel after Saudi Arabia signaled it was unlikely to push for big change in oil output.
CNBC's Bertha Coombs dissects the performance of oil ahead of OPEC's meeting.
How low will oil go? Perspective, with CNBC's Ron Insana.
Discussing the impact OPEC's oil meeting has on prices, with CNBC's Steve Sedgwick.
Discussing the bottom for oil and the outlook for the Middle East region, with Helima Croft, RBC Capital Markets.