OPEC+ Shocks Market With Million-Barrel Production Cut

The video discusses changes in oil production plans, initially promised to remain stable until year-end. However, doubts about oil demand and potential surplus have impacted prices, which are still lower than last year. The market's future, especially in the second half of the year, looks tighter, with some traders predicting a return to $100 per barrel. Russian production, affected by sanctions, remains a significant uncertainty.

What predictions were traders making about oil prices for the second half of the year?

What is the significance of Russian production in the context of oil prices?