[Savage Beast]

No, in German oe or ö or oeh (for a more drawn out syllable) is pronounced like the e in er but without pronouncing the r. It's the same sound as the French e, as in le.

[mikrofon]

I was taught to pronounce it like ‘eh’ but with the lips rounded for an ‘o’.

The sound is similar to the ‘eu’in French (”Meuse”), and close to how many yung’uns now pronounce the ‘o’ in words like “move” (instead of ‘moove’) ...

[ought-six]

Perhaps it is different in different regions. All my German relatives pronounced it “ay.” As did my German-language teachers in school. Then again, it is sometimes difficult for non-native German speakers to get German pronunciations “just right.” No doubt I fall into that category on some pronunciations.