OPEC won't cut production to stop oil slide: Pros

OPEC won't cut production: Pro
OPEC won't cut production: Pro

OPEC will not cut production in order to stop the downward slide of oil prices, two energy pros predicted on Friday.

The agency is slated to meet on Thanksgiving Day and with oil prices on a recent downward spiral, market bets on the outcome of the meeting have varied.

For Chicago Energies president Peter Amandio, the answer is clear.

"I think they want to see lower prices to get their competition out of the market," he said in an interview with CNBC's "Closing Bell."

That competition is namely the North American shale companies, which he said have a high cost of production.

Workers check the valves at the Taq Taq oil field in Arbil, Iraq, in this Aug. 16, 2014 photo.
Azad Lashkari | Reuters

Chad Brownstein, chief executive of Rocky Mountain Resources, thinks the real reason OPEC won't cut production is because of issues between Sunnis and Shiites and Iran and Saudi Arabia.

However, he added, "they have U.S. markets on their heels right now. You are going to see our rig counts go down. The corporate boardrooms in America are stagnant not knowing where oil is going to go."

Read MoreOil traders increase bets on OPEC action

Amandio expects oil to drop a "couple dollars" if his prediction comes true. He also thinks many traders agree with him because of a telling sign he saw in late Friday in the oil future's market.

"Puts, which are the right to get short, got very high, which is telling me that they're already fearful of a gap open lower on bearish news from OPEC," he said.

Read MoreUS oil manages to settle higher after brief dip

Brownstein said not only will lower prices be the norm, but the U.S. booming shale business will see some consolidation.

"You are going to see a big M&A strategy in 2015. You're going to see a rig count down 10 to 15 percent," he said.

"There still will be meaningful production but it's certainly not going to be at the rate it was at in 2014."