Oil Set for Worst Monthly Loss This Year

The video discusses the current state of demand in the energy market, highlighting a weakening demand outlook and rising gasoline stockpiles during the US summer driving season. It also examines the impact of US-China trade tensions on global demand. The options market indicates potential for further downside in crude prices, suggesting a technical correction amid demand concerns. The focus shifts to OPEC's production cuts and the uncertainty surrounding their extension, which could affect market stability. The lack of agreement on a meeting date for OPEC adds to the uncertainty, potentially causing market struggles.

What are the expectations regarding OPEC's production cuts as mentioned in the text?

What does the speaker suggest about the market's future performance until clarity from OPEC is received?