Ole Hansen, Saxo Bank’s head of commodity strategy, talks about how the failure to reach an agreement between Opec and non-Opec oil-producing nations will impact WTI and Brent oil prices. 

Talks broke down after Saudi Arabia wanted Iran included in any possible oil price freeze. 

Ole explains how a weaker oil price will speed up the slowdown in US production and how a possible intra-Opec supply war could see oil back at the 30/b level.