A method for flow control and a self-adjusting valve or flow control device, in particular useful in a production pipe for producing oil and/or gas from a well in an oil and/or gas reservoir, which production pipe includes a lower drainage pipe preferably being divided into at least two sections each including one or more inflow control devices which communicates the geological production formation with the flow space of the drainage pipe. The fluid flows through an inlet and further through a flow path of the control device passing by a movable disc or movable device which is designed to move relative to the opening of the inlet and thereby reduce or increase the flow-through area by exploiting the Bernoulli effect and stagnation pressure created over the disc, whereby the control device, depending on the composition of the fluid and its properties, automatically adjusts the flow of the fluid based on a pre-estimated flow design.