The price of Brent oil exceeded $34 per barrel

The price of Brent oil exceeded $34 per barrel

LONDON, January 7. The cost of futures for oil of mark Brent with delivery in February 2016 on the ICE stock exchange in London increased by 0.3% and reached $34,18 per barrel.

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The price of Brent crude oil fell below $33 a barrel

Auctions are characterized by strong volatility. Brent oil price fell several times below $33 per barrel.

Yesterday the price of Brent crude oil fell by 6.1% to $34,34 per barrel – the lowest level since 2004

Ulyukayev: oil prices will rise to $50 in the second half of 2016.

December 29, Minister of economic development of Russia Alexei Ulyukayev said that global oil prices will stabilize in the second half of 2016 at approximately $50 per barrel.

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“Must be found the new balance (supply and demand). My feeling is that somewhere in the second half of 2016, that balance will be found. I think it will be at about 50 dollars per barrel”, – said Ulyukayev.

He noted that several more months will it take for the manufacturer and user find new balance.

“For many countries the level of 35-45 dollars per barrel is not acceptable. Their budgets are calculated from prices 60-90 dollars. Our way, one of the most conservative, assumes $ 50. Less only Norway and Kazakhstan. However, so long can not continue”, – said the Minister.

According to him, the demand for oil grows. “Next year is projected 1.25 million barrels of growth, I think that will be even a little bit more,” said the Minister of economic development.

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