Oil Prices and OPEC-US Battle: What's Next?
TL;DR
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.
- 'Talk of $100 oil is pie in the sky,' says strategist Yahoo Finance
- Saudi Arabia's Unsuccessful Attempt To Boost Oil Prices OilPrice.com
- IYE: Oil Prices Shouldn't Collapse Despite How Badly The Market Wants It (NYSEARCA:IYE) Seeking Alpha
- The OPEC-US battle is back on Yahoo Finance
- Biden let Saudi Arabia become the world's oil king again — we're all worse for it New York Post
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