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This is where oil could go if OPEC goes home empty-handed

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Oil prices could fall if OPEC heads home empty-handed

Oil prices could quickly dive to $40 or lower if OPEC members leave Algeria without any promise of a deal.

Ministers were scheduled to meet Wednesday at the end of a three-day energy conference, after several days of on-again, off-again headlines on a possible deal to cut oil production by a reported million barrels a day.

"I think it really comes down to how they manage the message. It looks like they're not going to get any kind of hard agreement but can they keep hope alive for something on Nov. 30," said Helima Croft, global head of commodity strategy at RBC Capital Markets. "They have to go out and broadly say they're all on the same page, and they just have to work out the details."