U.S. oil retreated swiftly from the year's highs hit last week, on renewed glut worries, a rebounding dollar and weaker global equities. » Read More
Barry Dawes, Head of Resources at Paradigm Securities, says certain Middle Eastern nations may face political pressure on the back of lower oil revenues.
Given the rate and speed in which oil has been falling, prices could sink to $40 per barrel, says Jonathan Barratt, Chief Investment Officer at Ayers Alliance Securities.
Joe Magyer, Senior Analyst at The Motley Fool, describes the reaction of emerging market assets to plunging oil prices.
Scott Darling, Regional Head of Oil & Gas Research at JP Morgan, explains why he sees further declines in oil prices next year.
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.
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.
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.
The Organization of Petroleum Exporting Countries (OPEC) decided on Thursday not to cut oil production, despite sliding oil prices.
Ahead of the OPEC meeting, CNBC looks at Steve Sedgwick's encounters Saudi Arabia's oil minister, Ali Al-Naimi.
Ahead of the OPEC meeting, CNBC's Steve Sedgwick receives a muted response from Saudi Arabia's oil minister, Ali Al-Naimi.
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.
The minister said he is confident the group will reach a unified decision, and that the meeting will last only one day.