On Friday, OPEC is meeting in Vienna to decide on production policies. In the meantime, the main question from oil market watchers is: Will the cartel cut output and try to raise prices?
"It's very difficult to imagine OPEC cutting because if OPEC cuts, who's going to cut?" Jim Burkhard, head of oil market research at IHS Energy, said Thursday on CNBC's "Power Lunch."
Burkhard says that he would be surprised if The Organization of the Petroleum Exporting Countries decides to cut, instead he thinks that low-cost producers in the Middle East are more likely to raise production.
Efforts to reduce oil production aim to balance out the crude glut in an oversupplied market.