Oil Storage Surplus Has Been Completely Eradicated, RBC's Tran Says

The video discusses the dynamics of the oil market, focusing on Saudi Arabia's role in production and pricing. It highlights the economic needs driving Saudi production decisions and the potential risks in the market, including geopolitical tensions in Iran. The discussion also covers global supply challenges, emphasizing the importance of spare capacity in the coming months.

Discuss the potential impact of geopolitical events, such as violence in Iran, on oil prices.

What does the text suggest about the future of oil supply and demand over the next 12 to 18 months?