The price of a barrel of Brent oil exceeded $35 amid Novak’s statements about meeting with OPEC

The price of a barrel of Brent oil exceeded $35 amid Novak’s statements about meeting with OPEC


MOSCOW, January 28. The cost of futures for oil of mark Brent with delivery in March 2016 on the ICE stock exchange in London rose by 5.7% to 35,01 USD/bbl, surpassing the mark of 35 dollar for the first time since January 6 of this year.

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This is evidenced by the trade data.

The price of oil accelerated after the energy Ministry Alexander Novak about the readiness to personally take part in the upcoming February meeting of OPEC and other oil producers.

The ruble at the same time strengthens following the increase in oil prices.

The dollar at auction Moscow stock exchange has decreased on 2,06 RUB to 75.6 rubles, the Euro fell 2.1% to 82.5 RUB.

Consultations with OPEC

The subject of the upcoming February consultations of the representatives of OPEC and outside it is the Union of producers of oil would be to reduce production to 5% of each of the countries, said earlier Novak.

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“Actually, when we were still at the previous meeting, the consultation was discussed, it was generally not about the Russian Federation, in General, countries that extract and export oil – such about settings and sounded on the reduction of production of each country to 5 percent,” said Novak.

“There’s a lot of questions reduction control, from which base to consider. To begin these questions to work, you need General agreement, too early to tell. Is the subject of meetings and discussions (in February),” said the Minister.

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Oil prices over 40 years

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