Oil prices rose after the change by the Bank of Japan interest rates


Moscow. January 29. Oil prices continue to go up on Friday on optimism related to a possible coordination of actions of oil-producing countries to stabilize the market, according to Bloomberg.

Growth was also supported by the Bank of Japan’s decision to introduce negative interest rates on Deposit accounts that financial institutions have at the Central Bank.

Quotations of March futures on the mark Brent on London’s ICE Futures exchange by 7:50 Moscow time has grown on 1,2% – to $ 34,30 per barrel.

The contract prices for mark WTI for March in electronic trading on the new York Mercantile exchange (NYMEX) by this time increased by 1.2% to 33,61 dollars per barrel.

On Wednesday the President’s press Secretary Dmitry Peskov, commenting on the message about possible coordination with OPEC in the oil market and reduction of volumes of production, said that “this topic is now actively appear.” “In practical terms is specifically to talk about, but the theme of instability and volatility in oil markets is being actively discussed”, – he said.

“The market is not to look at global excess and more think about the future relationship of supply and demand, the difference between them in the second half of the year will decrease, – says oil analyst Petromatrix Olivier Jacob. If OPEC and Russia are really starting negotiation, this means that the equilibrium in the market may recover a little sooner than expected”.