Crude oil prices remained stable around USD 70 per barrel on Tuesday as markets assessed the impact of extended output cuts from Saudi Arabia and Russia against signs of weakening global economic growth and dwindling demand. Saudi Arabia confirmed it would prolong its voluntary one mln barrels per day cut into August, and Russia announced a decrease in oil exports by 500k barrels per day in the forthcoming month. These decisions escalate OPEC+ members’ total output cuts to 5.16 mln barrels per day, aiming to bolster oil prices.