What are they going to do? Reduce production? They&#x27;d have to slash it to the bone to materially affect oil prices right now and the benefits of any rise would be realized by the other producers. Their reduced sales would offset any price rise.<p>OPEC just doesn&#x27;t control enough production capacity to dictate to the market any more. All the producers have become so dependent on oil revenue their response to falling prices has been to increase production as much as possible. They can&#x27;t afford to cut production and thus cut their revenues without massively exacerbating the damage to their economies.