The price of Brent crude oil fell below $36,2 per barrel for the first time since July 2004

LONDON, December 21. The cost of futures for oil of mark Brent with delivery in February 2016 on the stock exchange ICE in London fell by almost 2% to $36,17 per barrel for the first time since July 2004.

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.