Low prices of crude oil can be caused by a number of factors. Basically, it could be due to an imbalance between supply and demand - too much supply or too little demand.

OPEC Member Countries have always tried to adjust their crude oil supplies to improve the balance between supply and demand. OPEC's aim at all times is to maintain steady supplies of oil to consumers, while securing a reasonable return for its Member Countries. However, OPEC cannot be expected to achieve this on its own.

Most non-OPEC oil producers supply as much oil as they can. This makes it difficult for OPEC to maintain stability in the oil market and results in losing market share and potential revenue for the organization.

If oil production rises faster than demand, then prices can fall and all oil producers will suffer. In the long run, consumers will also suffer if the oil industry is unprofitable and unattractive to investors.