Despite the European Union ban on Russian oil, there is a chance that the Organization of the Petroleum Exporting Countries will cut its crude production quota again.
She told CNBC that the EU's embargo on seaborne imports of Russian oil will take effect on Monday and that the oil market will be "an incredible week."
Oil prices have already been under pressure this year due to supply shortages and another production cut could cause more trouble. If EU nations can't agree on a cap that would keep Russian oil flowing, that's expected to be worsened by the EU ban on Russian oil.
"I still think it's up for grabs, but there's definitely a chance they do another cut," she said.
Oil markets were rattled over the weekend due to the protests in China and the European leaders are still trying to agree on a price cap.
On Monday, the organization floated another cut, which could be announced on Sunday. The oil group reduced its production quota last month.
If the market experiences a disruption in oil supplies, or if the Russia price cap is able to be rolled out on Monday, the leaders of the Organization of the Petroleum Exporting Countries will likely issue another major cut.
There is a lot of confusion. She warned that they had to factor in what happened with China and Russia.
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