Currently, there are no signs of an imminent eruption. However, Öræfajökull is under close and constant surveillance.
On Saturday 18th November, a yellow alert was put up for the volcano, causing a bit of panic amongst some international media outlets. The reasoning for the yellow alert was because of an ice-cauldron forming in the caldera, measuring around a diameter of one kilometre. This suggests that there is an increase in activity.
However, the major clue to an imminent eruption would be a series of earthquakes within the area. At this current time that is not happening. Experts are still keeping a close eye on Öræfajökull as, a few days ago, conductivity in a river that flows from the glacier had risen, indicating increased geothermal activity is melting the ice.
The volcano has not erupted since 1727, whilst an earlier eruption in 1362 destroyed the district of Litla-Hérað, including farms. In fact, the area was left abandoned for 40 years. The name Öræfajökull translates to 'wasteland glacier', how fitting!
Öræfajökull will continue to be under close inspection, whilst there is a plan to get the people in the surrounding area briefed on an evacuation plan should any eruption occur.