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OPEC and non-OPEC countries come together later this week to decide whether to cut production to prop up prices.
In recent weeks, oil prices have dropped because of increased OPEC and non-OPEC production.
There is the possibility of a price war between OPEC and non-OPEC producers.
Similar increases have come from Kuwait and Iraq, even while total OPEC and non-OPEC imports declined.
The production gap between OPEC and non-OPEC's total oil production is less than 5%.
Fig. 5 Trend of World Oil Production by OPEC and Non-OPEC.
New oil is coming from almost everywhere, a mix of big and small, OPEC and non-OPEC.
Worldwide oil production is on the rise (OPEC and non-OPEC) while demand is weak and getting weaker.
Several OPEC and non-OPEC oil producers rely heavily on oil revenues to finance their fiscal budgets.
"The market doesn't distinguish between an OPEC and a non-OPEC producer," he says.
"That looks bad in front of OPEC and the rest of non-OPEC.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com