MOSCOW, March 7. The cost of futures for oil of mark Brent with delivery in may 2016 on the ICE stock exchange in London increased by 3.5% to $40,02 per barrel.
Barrel by “freezing”: the oil market in questions and answers
The price of this brand of oil exceeded $40 per barrel for the first time since December 10, 2015.
Amid the rising price of oil, the MICEX index by results of trades the Moscow exchange grew by 1.67% to 1909,57 points – their highest level since June 2008. Dollar-denominated RTS index ended the trading session higher by 2.56% to the level of 839,23 item.
Talks about the freezing of oil production
Currently negotiations are underway about the possibility of freezing the oil in the world.
So, on February 16 in the capital of Qatar, the Ministers of oil of Saudi Arabia, Qatar, Venezuela, included in OPEC and Russian energy Minister Alexander Novak discussed the possibilities to improve the price situation on the oil market. According to the Ministry of energy of the Russian Federation, the parties expressed their willingness to save, on average, in 2016 oil production at the level of January of the current year, if other countries-oil producers will join this initiative.
Vice-President of “Rosneft”: the price of a barrel of oil should not be less than $70
The head of the state oil company of Azerbaijan: Baku will not increase oil production this year
Novak: Russia is ready to host a meeting of the countries – manufacturers of oil
Oil prices on the world market are at a low level for over 20 months, the price of a barrel dropped below $ 30, which is the lowest indicator for last 13 years. The falling price of hydrocarbons has hit the Venezuelan economy, which depends on exports of black gold. In this regard, Maduro has repeatedly called on OPEC members and other producers to take joint action to restore “fair prices for hydrocarbon raw materials and to achieve their stabilization”.
Oil prices over 40 years