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Hansen: 'Opec, as we know it, is in trouble'
Opec as we know it is in trouble; that's according to Saxo Bank's Ole Hansen. As the price of crude oil falls dramatically, the game changer could be the organisation's next meeting later this November. Up to now, Opec has appeared to take a laissez-faire attitude to the declines and many accuse it of wanting to put competitor producers under so much pressure they cut production or stop business altogether.
Ole explains what's likely to happen in the oil markets over the next few days and weeks. He suggests levels to watch for in Brent and WTI and what might happen if Opec fails to agree on any production cuts.
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02:55 minutes
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