The price for Brent jumped above $ 35 after the statement of Russia for a meeting with OPEC – RBC

The price of Brent crude oil on the ICE exchange rose sharply. During the bidding price of Brent futures for delivery in March 2016, Merchandise which bubbled closed tomorrow, rose to $ 35.18 per barrel, which is about 6.28% higher than yesterday’s closing.

At the same time the cost of the April futures jumped to $ 36.72 per barrel, which is 8.22% higher than yesterday’s closing.

The jump of oil prices came after the Energy Minister Alexander Novak said that Russia may take part in a meeting of OPEC, which discussed the possibility of decline in oil production. “With this initiative came out in the country, now there is a study of the issues among the countries. For our part, confirmed the possibility of their participation in such a meeting, “- said Novak.

The previous oil price spike occurred on Thursday night in the other news from Russia, associated with possible agreements with OPEC.

On the eve of 27 January, the head of “Transneft” Nikolay Tokarev after a meeting with Novak said that Russia and the OPEC countries are planning to hold talks on possible decrease in oil production. “Production at the bar for the past few years is worth it. I do not know how this year will be. But this topic will be discussed with partners, both OPEC and non-OPEC members. In the near future such negotiations scheduled. Saudi Arabia, at first, took the initiative to discuss the prospect of reducing the volumes “- quoted Tokarev« Interfax ».

Tokarev specified that discuss the possibility of reducing production volumes offered Saudi Arabia, and that in February Russia will participate in the meeting OPEC on Thursday and confirmed Nowak (on the news on Thursday night April futures for Brent crude oil rose above $ 34 per barrel).

Asked whether Saudi Arabia has offered Russia to reduce production by 5%, Novak said today: “In fact, when we were still at the previous meetings, consultations discussed, it was not about the whole Russia and the whole of the countries are engaged in oil production and exports. That is roughly the parameters and heard – to reduce production in each country up to 5% ».

Earlier Thursday, the president’s press secretary, Dmitry Peskov, said that Russia has no plans to negotiate with Saudi Arabia and OPEC to reduce production oil.

Oil at $ 170: the dream of the Russian gosmenedzhery Gallery The head of” Rosneft “Igor Sechin said on Monday that Russia’s oil production could potentially be increased to 700 million tons. This plan can be called, to put it mildly daring: the forecast of Economic Development, in 2015 oil production will amount to 530.5 million tons, and according to the draft General Scheme of the oil industry, Oil production in the existing fields in 20 years will be reduced by 125 million tons. To keep production at current levels is possible only if the shortfall in volumes of oil will be replaced by new deposits, including through the work on the shelf and with hard resource. RBC remembered what else dreamed Russian gosmenedzhery ambitious forecasts and what did officials in recent years.
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UBS analyst Maxim Moshkov notes that the price of oil day changed to 10% (both downward and growth). “The market reacts to any new, previously expected factors, one of which was the news about possible talks in February, Russia, Saudi Arabia and OPEC to reduce oil production”, – he said.

The analyst Sberbank CIB Vladimir Pantyushin also names the main factor that influenced the rise in oil prices, the news that Russia and OPEC countries will discuss the reduction of oil production. “Market participants believe the price at $ 30 unreasonably low and quite vividly react even to such verbal intervention is not backed up by any concrete decisions”, – he explained.

According Moshkova for Russia is technically possible to reduce oil production 5-8% per year, only stopping new drilling at existing fields and ceases to commission new projects. But the fulfillment of his promises on the part of the countries – participants of OPEC under the big question.

Rising oil prices led to a new appreciation of the ruble. The cost of the dollar on the Moscow Stock Exchange has dropped to 75.473 rubles., Which is 2.2 rub., Or 2.8%, lower than yesterday’s closing. The euro dropped about 2.7% to 82.342 rubles.