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Oil Could Take Another Dive, Just in Time for New Round of OPEC Rumors

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The next trough in oil prices could come just as OPEC members gather in Algeria next month — and that could make for an interesting, and more unpredictable outcome.

While most analysts say OPEC members are all talk, and no action, some say there is an outside chance members could feel pressured enough to act if crude prices are in free fall.

Members of the Organization of the Petroleum Exporting Countries have said they would discuss at their late September meeting whether a freeze or some other action is needed to stabilize oil prices, after a number of high-profile failures to reach an agreement.

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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