Oil Prices and OPEC-US Battle: What's Next?

Despite Saudi Arabia's announcement of a production cut, oil prices fell on Tuesday, indicating that demand outlook is still a major concern. Ben Laidler, eToro global markets strategist, believes that talk of $100 oil is unrealistic, and that the best outcome would be to stabilize the price or manage the decline. Tom Essaye, Sevens Report Research founder, added that Russia is pumping as much oil as possible to fund their war. The voluntary cut by Saudi Arabia is not expected to materially change the price of oil, and oil-related stocks have also declined.