DBS Group Research on Monday said fiscal outlook of US and Russia will be unsustainable if oil reaches at $50 per barrel.

In an interview to CNBC-TV18, Taimur Baig, chief economist and managing director, said, "Saudi Arabia is in a very precarious state in terms of cutting their production, whereas Russia would love to see oil go back to $60 per barrel."

Warren Gilman, chairman and chief executive officer, CEF Holdings, said Saudi Arabia is not willing to cut crude oil prices, but US and Iran will raise production in coming months.