The price of Brent crude oil has fallen by 6% since the Doha negotiations – RBC

Photo: AP

In the first minutes of trading on the London Stock Exchange ICE price Brent crude slumped to $ 40.16 per barrel. This happened after the participants in the negotiations in Doha have not been able to agree to freeze production

The price of the June futures for Brent crude oil in the first minutes of trading on the London Stock Exchange ICE on Monday, April 18 fell to $ 40, 16 per barrel. However, further decline did not happen and as of 2:15 MSK oil traded near $ 40.71 per barrel.

The fall of prices in relation to the closure of the previous trading day at 2:15 MSK was almost 6%. In the previous trading session on Friday closed at $ 43.10 per barrel.

Bidding on Monday became the first, after the Doha talks ended without result on the limitation of oil production.

As the Minister of Energy Minister Alexander Novak, a number of OPEC countries before the meeting in Doha have changed their position. They suggested that an agreement on the freezing of production was carried out under the condition that will involve not only all the members of OPEC, but also major exporters of non-OPEC.

According to the minister, Russia is ready to consider participating in the next a meeting on the issue, but added that “we will not be so optimistic look at such agreements.” At the same time, Novak said that the absence of an agreement would have no consequences for Russia. The minister believes that “the market situation should equalize supply and demand balance” by mid-2017

From the middle of June 2014 until the end of January 2016 the price of Brent crude fell four times -. From $ 114.9 to $ 28 per barrel. February 16 it was reported that three cartel members – Saudi Arabia, Qatar and Venezuela – and Russia agreed on a freeze of oil production at the level of January, but only in the event that an agreement be joined by other major manufacturers

One. of the main opponents of the idea of ​​limiting production became Iran, whose authorities have declared that they will consider the level of production freeze only after leave on dosanktsionny oil production – about 4 million barrels a day..