The price of a barrel of Brent oil fell again below $37


LONDON, 17 December. The cost of futures for oil of mark Brent with delivery in January 2016 on the stock exchange ICE in London fell by 1.15% to $36,95 per barrel climbing above $37 per barrel.

Last time below this level the price of Brent crude oil fell 14 December, then it happened for the first time since December 2008.

Amid falling oil prices, the dollar climbed 55 kopecks to the level of the ruble is 70.94.

The fall of quotations Brent from the highs of June 2014 close to 70%. Today, the cost of futures for oil of mark Brent with delivery in January 2016 on the stock exchange ICE in London fell by 3.3% to $37,19 per barrel is the lowest level since December 2008. For comparison, in December 2008 the price of Brent crude fell to 36,58 USD per barrel, down 75% in five months.

Oil prices accelerated their decline after the OPEC meeting on December 4. According to the results of 168-th meeting in Vienna Ministers of oil of the OPEC has not taken a clear decision on production quotas because of the position of countries that are not members of the organization. Currently the volume of oil production by OPEC members is estimated to be 31-32 million barrels per day. The previous quota was 30 million barrels/day.