Oil Truce in Doubt Over Signs U.S. Won't Join Any Deal

The transcript discusses the global oil market crisis, emphasizing the need for US involvement in OPEC deals due to Russia's preconditions. It highlights the political tensions between Russia and Saudi Arabia, affecting oil prices. The discussion also covers OPEC's proposed production cuts and the challenges of inflated output levels. Concerns about running out of global oil storage space are raised, with estimates suggesting a critical point in May. The transcript underscores the complexity of reaching meaningful agreements amid political and economic pressures.

Discuss the significance of the 10 million barrels per day cut mentioned in the conversation.

What are the potential consequences of running out of storage space for oil?