The price of Brent crude oil exceeded $57 for the first time from July 2015

For the first time since July 21, 2015 Brent crude oil has exceeded$ 57 in, according to data trading. As of 2:20 MSK growth was 4.8%, and the price — $57,7.

Later, however, the price fell below $57 — as of 2:53 it was $56,88.

The increase in oil prices occurred against the background of the agreement that OPEC, Russia and ten other countries outside the cartel, to reduce oil production starting next year to maintain prices.

Non-OPEC 11 countries — in particular, Russia, Kazakhstan, Azerbaijan, Oman, and Bahrain — pledged a total of to reduce their oil production at 558 thousand barrels. (instead of the original agreement on 600 thousand Barr.) a day from January next year after the cartel.

Russia has previously stated that it is willing to reduce its production by 300 thousand barrels. Mexico pledged to cut production by 100 thousand Barr., Oman — on 40 thousand Barr., Azerbaijan — 35 thousand Barr., and Kazakhstan has agreed to cut production by 20 thousand barrels. a day.

The meeting participants agreed to establish a Committee to monitor the conditions of the agreement. OPEC will represent Kuwait, Venezuela and Algeria, and the rest of the country will represent Russia and Oman. Russia and Kuwait will head this Committee. It is planned that meetings will be held regularly, the first scheduled for January 2017.

November 30 decision to cut production was taken by OPEC. They agreed to cut production by 1.2 million barrels. per day from January 2017. The total reduction of oil production by OPEC countries and countries outside the cartel will reach 1,7–1,8 million Barr. a day.