The price of Brent oil fell to the lowest level in nearly 7 years

Moscow. December 7. The prices for oil imports continue strong fall on Monday after the decision of the Organization of countries-exporters of oil (OPEC) of maintaining actual production volumes of oil, amounting to about 31.5 million barrels a day, reported Bloomberg.

The members of the cartel agreed not to set quotas before its next meeting in June 2016.

Quotes January futures on the mark Brent on London’s ICE Futures exchange to 18:11 MSK fell $1.42 (3,3%) to $41,58 per barrel. This is the lowest level since March 2009.

The contract prices for mark WTI for January in electronic trading on the new York Mercantile exchange (NYMEX) decreased by this time $1,64 (4,1%) to $to 38.33 per barrel, the lowest level since August 25 of this year.

The decision Friday by OPEC, means that “everyone can do what I want”, said the Minister of oil of Iran Bijan Zanganeh assessing the excess supply in the market at $2 million. Iran is prepared to boost production immediately after the lifting of international sanctions against the country.

OPEC’s decision aims to protect the interests of the cartel members, says the oil Minister of Iraq Adil Abd al-Mahdi. “We protect the interests of our countries, protect the interests of our organization, – he said. – Americans have no ceiling production. The Russians are not. Why it needs to be in OPEC?”