The price of oil rose above $58 for the first time since the summer of 2015

The growth of world oil prices in the first work of the exchanges the day after the Christmas holidays accelerated amid reports about the beginning of decline in oil production in the framework of a prisoner in 2016 of the agreement OPEC and non-cartel countries.

On the background of statements of the head of the national oil company of Kuwait Jamal Jafar that his company has already reduced the amount of daily production by 130 thousand barrels, the price of a barrel of Brent crude on the ICE stock exchange for the first time in nearly a year and a half, rose above $58.

The maximum cost of a barrel reached on Tuesday at $58,38 that by 2.75% above the closing level of the last trading session of 2016. In previous times more than $58 a barrel of Brent cost 16 Jul 2015.

Earlier, analysts said that the dynamics of world oil prices in 2017 will be largely determined by the execution of agreements on the reduction of oil States, OPEC and non-cartel countries. 21-22 January 2017 the implementation of the terms of the contract will be discussed at the meeting in Vienna.

The rising oil prices allowed to start in 2017 with the strengthening of the dollar and the Euro. The value of the dollar on the Moscow exchange fell on Tuesday to 60,765, the Euro to 63.27 RUB.

At the same time stock trading on the Moscow stock exchange are held in the “green zone”, and the MICEX index reached a new historic maximum, reaching at the peak level 2277,31 points.

By 13:00 MSK cost of a barrel of Brent crude on the ICE futures exchange was $58,1 by 2.25% above the closing level of the previous trading session.