Oil: OPEC may revise the terms of the agreement

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Quotes black gold grow. OPEC may revise the terms of the transaction. In the state Duma introduced a bill on the regulation of cryptocurrencies. The consideration of the bill was initially planned at the end of last year, but was postponed to the current. The law provides for the possibility of exchanging digital currencies for scriptactive, rubles, foreign currency.
There were, however, prohibited the operation on the purchase or sale of any products or services through digital assets. Mining want to equate to the business and to tax.
Meanwhile, the oil market has seen a steady rise of black gold. Quotes of oil Brent for the first time since the beginning of February reached $ 68 per barrel.
On this background the dollar on the Moscow exchange is held in the mark of 57 rubles 50 kopecks, the Euro traded at the level of 70 rubles 50 kopecks. The MICEX index rose to 2305 points, North sea Brent is trading just above $ 68 per barrel. Bitcoins according to CoinMarketCap exceeded $ 9,000.
The rise in oil prices provides stability of the Russian ruble and investor interest in Russian stocks. However, the market began to rumors that OPEC may soon revise the terms of the transaction. In particular was previously mention that Russia may prematurely exit the trade OPEC+. All of this can be a reason for negativity in the market of black gold.
However, while we are seeing steady growth and it is likely that oil prices will continue to strengthen, and soon reached 70-71 per barrel. All this will have a positive impact on the growth of the Russian ruble. But we believe that the dollar will be in the range of 57-58 rubles per dollar. The second quarter, despite all the possible positive background of the oil market will not be easy for the domestic currency. We expect a gradual weakening of the ruble.
Gleb Zadoya,
The head of the analytical Department of the company,