The price of a barrel of Brent crude oil exceeded $52

MOSCOW, may 15. /TASS/. The cost of the futures on Brent crude oil with delivery in July 2017 in the course of trading on the ICE exchange in London grew by 2.6% to $52,1 per barrel, according to the auction.

In recent times the price of this oil was above $52 per barrel on 2 may 2017.

Against this background, the Russian currency strengthened against the Euro and the dollar. So, the dollar during trading session on the Moscow exchange as of 10:52 Moscow time fell by 61 kopecks – up to 56,47, the Euro and 66 cents, to 61,79 RUB.

Oil enhanced the growth, after the head of the Ministry of energy Alexander Novak and Minister of energy, industry and mineral resources of Saudi Arabia Khaled al-Faleh on a possible extension of the deal to reduce oil production for another nine months, i.e. until the end of March 2018 At the same time discussed the current quota of 1.8 million barrels. Until 24 may, Russia and Saudi Arabia will carry out appropriate consultation with the parties to the transaction.

The extension of the transaction necessary to achieve its objectives of reducing world stockpiles to the averages for the five years levels.