In electronic trading on the London and New York stock exchanges world oil prices fall.
The April futures for light WTI oil on the New York Mercantile Exchange (NYMEX) fell by 1.19% to $ 37.45 per barrel. On London’s ICE Futures Exchange, oil futures for Brent crude for delivery fell 1.52% in May to $ 40.22 per barrel.
On the eve of Brent rose for the first time since the beginning of the year to $ 41. The last time the “black gold” standard grade reached the mark in December 2015.
According to experts, the rise in price of oil is associated with a reduction in the number of drilling rigs operating in the US (the number in January decreased by 60 items and made up 654), as well as the fall in the production of American oil producers to the lowest level since November 2014. In addition, in mid-February, Saudi Arabia, Russia, Qatar and Venezuela have previously agreed to freeze production at the level of January 2016 to keep global oil prices from falling further.
As is known, Brent price used to calculate the price of Russian Urals oil. The budget of the Russian Federation for 2016 been drawn up on the basis of the average annual value of $ 50 per barrel.
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