Oil Prices: A Simple Supply and Demand Issue?

The video discusses recent stock market declines, highlighting the impact of Germany's GDP forecast cut and the Federal Reserve's interest rate decisions. It examines corporate earnings, particularly J&J's positive results, as a stabilizing factor. The video also analyzes the oil market, noting a supply glut and the effects of a stronger dollar. It explores potential impacts on the US economy and global markets, with a focus on Russia's economic challenges due to low oil prices.

Discuss the implications of the supply glut in the oil market as described in the text.

What are the potential consequences for Russia's economy if Brent oil prices remain low?