China, India May Be Buying Up Russian Oil, Rouse Says

The transcript discusses the recent drop in oil prices, which have fallen from over $120 to $102 per barrel. This decline is attributed to increased purchases of Russian oil by China and India, leading to more supply in the market. The volatility of the oil market is acknowledged, and there is hope that lower prices will benefit consumers. The ongoing war in Russia is a factor in the market's instability. The President is working with Congress on measures to stabilize the economy, reduce inflation, and navigate through these challenges.

What factors are contributing to the recent drop in oil prices?

What is the significance of the term 'volatile' in relation to the oil market?

How have the purchasing behaviors of China and India affected the oil market?

In what ways might the ongoing war impact oil prices and supply?

What measures is the President proposing to address high oil prices?