Russia Says It Will Work With OPEC+ on Reductions

The video discusses the severe impact of the coronavirus on global oil demand, highlighting how reduced travel and work activities have led to a significant drop in energy consumption. Analysts predict worst-case scenarios with no demand growth, and some even foresee zero growth. The video also covers market reactions, including Russia's involvement in oil pricing and the potential for $30 oil. Current market conditions are described as nervous, with an oversupply of oil exacerbated by the crisis.

What does the text suggest about the future price of oil and the factors influencing it?

Discuss the potential impact of Russia's actions on the global oil market as mentioned in the text.