A strong message is being sent to the United States by oil producing members of OPEC led by Saudi Arabia.

The group that accounts for 40 percent of global oil supply, is under pressure to curb tumbling oil prices, following a glut on the market.

That's partially due to more production by the US which has developed techniques to extract oil from shale fields.

ASB Securities Andrew Kelleher told Newstalk ZB's Rachel Smalley OPEC met overnight and decided to maintain output at current levels.

"What we're actually looking at here is, I believe, some of the traditional producers saying, 'well, let's see how cheaply you can actually produce that oil because we can produce that oil cheaper than you."