Pullback in Oil Has Run Its Course, Says CMC Markets' McCarthy

The video discusses the current state of the oil market, focusing on WTI's bear market status and the potential impact of production cuts by OPEC and Russia. It highlights the recent correction in oil prices and the role of demand as a key factor in market dynamics. The discussion also covers the expected volatility due to upcoming OPEC meetings and the influence of the US dollar. The video concludes with an analysis of Saudi Arabia's production strategy and its implications for market expectations.

What are the expectations regarding production cuts from Saudi Arabia?

Discuss the potential impact of US shale producers on the oil market.