The price of Brent oil fell by 3.5% and is trading at $33 per barrel

The price of Brent oil fell by 3.5% and is trading at $33 per barrel

LONDON, January 7. The price of Brent oil fell by 3.5% and is trading at $33 per barrel.

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The price of a barrel of Brent crude oil fell below $35

The dollar rate has exceeded 75 rubles for the first time since December 2014

Earlier Thursday, Brent quotes fell below this level.

Yesterday cost of futures for oil of mark Brent with delivery in February 2016 on the stock exchange ICE in London fell by 6.1% to $34,34 per barrel – the lowest level since 2004

Falling oil prices exerted strong pressure on the Russian ruble and stock indices. So, the dollar at auction Moscow stock exchange on 6 January rose above 74 rubles – for the first time since December 16, 2014, and the MICEX index (MICEX) by the end of trading on the Moscow stock exchange fell by 0.32% to 1748,57 points, while the RTS fell 2.11% to 736,82 item.

The forecast for Russia from the world Bank

The world Bank (WB) has revised to the downside their assessments and forecasts for the Russian economy.

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Ulyukayev: oil prices will rise to $50 in the second half of 2016.

Now he expects to reduce real GDP in Russia in the coming year by 0.7%. Over the past year, according to his estimates, the decline reached 3.8%. Next year, in his view, the recession should be replaced by a rise of 1.3% of GDP. These figures are given in the new WB report “Global economic prospects”, released on 7 January in Washington.

Compared with June last year, estimates Bank of Russia has worsened by 1.1% in 2015, 1.4% in 2016 and 1.2% for 2017.

In comments to digital indicators indicates that “economic activity will be slowed by persistently low oil prices and international sanctions.” “Investment is constrained by weak investor confidence and high interest rates, and consumption harms the sharp decline in the purchasing power of the population,” the authors write.

Expert opinion

Author: Konstantin KORISHCHENKO

They estimate that oil prices in the world (average for varieties of Dubai, Brent and WTI) fell in the world in 2015 to 46.5%. In the new year they are expected to decline another 8.5% in the next two years – an increase of 7.2% per year.

However, the chief economist of the world Bank Kaushik Basu, representing a new report to reporters, said that this year the prices should not drop, and “grow up a bit compared to where they are now.” But still, in his words, in an average year, they should be approximately $ 49 per barrel, while in June predicted the level of 55 dollars per barrel.

See also

From high to collapse: the dynamics of oil prices since 2000