Where all 14 OPEC members stand ahead of November's crucial meeting (USO, OIL)

Alaa Al-Marjani/Reuters

Two years ago, oil prices plummeted after OPEC voted to not cut production.

Fast forward to 2016, and it looks like the cartel could be gearing up for a production cut.

As members prep themselves for the November 30 meeting, we took a look at how they have fared over the last few months in terms of economic, geopolitical, and security issues.

RBC Capital Markets' commodities research team led by Helima Croft ranked all 14 members from least to highest risk, with 10 being the highest possible risk.

 

Qatar relies on liquid natural gas, and so it's problems "will emerge later this decade."

Naseem Zeitoon/Reuters

Risk for this year: 2

Oil production last month: 0.62 millions of barrels/day

Oil production 2015 average: 0.67 mb/d

Qatar is a big player in the liquefied natural gas sector, and so analysts believe that its challenges "will emerge later this decade."

Still, it's notable that the country raised $9 billion in Eurobonds back in May, which was the biggest bond issuance in the Middle East until Saudi Arabia's last month.

 

Source: RBC Capital Markets

The United Arab Emirates continues to sit in the "sweet spot."

Jumana ElHeloueh/Reuters

Risk for next year: 2

Oil production last month: 3.11 mb/d

Oil production 2015 average: 2.88 mb/d

Like other GCC states, the United Arab Emirates remains better positioned than other producers to weather lower oil. However, it, too, has made some cutbacks.

"GCC monarchies survived the Arab spring uprisings largely unscathed by ratcheting up social spending. Now, however, the recent moves to scale back the social contract pose the risk of domestic discord and strife," wrote Croft.

"Hence, the GCC — UAE included— will likely remain core members of the Saudi-led OPEC coalition of the willing, together looking to add a little extra grease to the wheels toward achieving moderately higher prices."

 

Source: RBC Capital Markets

Kuwait has a small population, but they do not want austerity measures.

Reuters/Faisal Al Nasser

Risk for next year: 3

Oil production last month: 2.96 mb/d

Oil production 2015 average: 2.85 mb/d

Although Kuwait has a small population and a relatively large sovereign wealth fund, the country has seen some disarray in 2016.  

Back in April, oil workers went on strike to protest proposed government cutbacks. And more recently, the Emir dissolved parliament following "disputes between MPs and the government over fuel price increases in the oil-rich country."

 

Source: RBC Capital Markets

See the rest of the story at Business Insider