A critical meeting of OPEC is under way in Vienna, but could as oil prices dip, could countries outside the cartel have a rising role to play in the global oil market? Figures show that for the first time in 75 years, the US has become a net exporter of oil. The shale-spurred tip-over into selling more oil than it buys from overseas, is likely to be brief, but it's enough to have OPEC considering a cut in production to bolster prices. CGTN's Guy Henderson reports.

Shortly after arriving, Saudi Arabia's Energy minister made clear. Riyadh was backing a deal to cut production amongst major oil producers aimed at pushing global prices back up.

KHALID AL-FALIH SAUDI ENERGY MINISTER "We hope that we will come to an agreement where all producers will contribute with an equal cut across the board."

As other OPEC members flew into Vienna the night before, they too appeared to be onboard. At least, in principle.

MOHAMMED BIN HAMAD AL RUMHI OMAN MINISTER OF OIL & GAS "The cut yes but we haven't discussed the numbers."

But not all members of the Organization of the Petroleum Exporting Countries - or OPEC - want to take an equal hit: including Iran.

BIJAN NAMDAR ZANGENEH IRANIAN OIL MINISTER "We are not ready to cut our production. But I support, and Iran supports, any decision made by OPEC members for managing the market. But Iran, during the period of sanctions, imposed sanctions, it's not fair to reduce anything more."

And then there's the pressure coming from outside the cartel.

GUY HENDERSON VIENNA, AUSTRIA "Oil prices took their sharpest monthly fall in a decade in November. So from a purely economic standpoint, OPEC's de facto leader - Saudi Arabia - needs a production cut deal. But politically, the question has always been: right now, can Riyadh really afford it."

On Wednesday, U.S. President Donald Trump posted another tweet warning against a deal, and calling for continued low prices. A group of non-OPEC producers, led by Russia, also need to sign off on any agreement. Their Russia's energy minister came only to head back to Moscow early for further consultations. He'll return for more discussions on Friday. So if there is a cut, it could be smaller than the markets wanted. The prospect of that - or no deal at all - has sent stocks tumbling. GH, CGTN, Vienna.