Oils Fall Adds to Sanctions Pain for Russian Economy

The video discusses the impact of falling oil prices on the Russian economy, highlighting how different oil price scenarios could affect Russia's budget deficit. It uses data from Spear Bank to show that an average oil price of $90 per barrel would result in a 1.2% GDP deficit. The video also explores the varying costs of oil extraction in different regions and the implications for global oil markets.

What data source was used to analyze the impact of oil prices on Russia's budget?

What are the implications of oil prices falling for the Russian economy?