Goldman's Currie Says OPEC Needs to Cut Oil Production by 1M Barrels per Day

The video discusses the potential role of the G20 in stabilizing commodity prices, focusing on oil and metals. It highlights the impact of excess oil supply, Iranian waivers, and the trade war on prices. The discussion includes the dynamics between the US, Russia, and Saudi Arabia in oil pricing, emphasizing the need for cooperation to manage prices. The video also examines the precarious position of US shale supply and the necessary production cuts by OPEC to support prices. Finally, it addresses the impact of cost structures on the oil and metal industries, suggesting a need for significant production cuts to balance supply and demand.

Why is it in the US interest to see oil prices higher according to the text?

What is the expected global GDP growth rate mentioned in the text?