Even though OPEC members have already reached an agreement on production of 30 million barrels per day but some members have violated the ceiling by oversupply. Secondary sources data show that OPEC has produced 464 thousand barrels above the ceiling in September which has been one of the main reasons behind falling prices.

Some analysts are saying if OPEC intends to raise prices to a higher level, it should cut its production by more than 400 thousand barrels per day although OPEC is simultaneously worried about losing its market share.

With just few days remaining to OPEC meeting on November 27, a number of OPEC members have started lobbying, most of them have called for unity in confrontation with current status and falling prices. Meanwhile Saudi Arabia has remained silent about falling oil prices even though it has stated the country is interested in a stable market.