Oil price stabilized in anticipation of the OPEC decision+

  • And
  • +A

The price of oil (August futures) to 14.57 GMT 13 June decreased by 0.2% to 75,73 dollars per barrel for Brent.
“Black gold” stabiliziruemost waiting for the players in the market of OPEC’s decision+ according to the fate of the deal on the reduction of oil production.
On 22 June in Vienna will host a meeting of major oil producers. Recently, the leaders of the parties of this transaction, Saudi Arabia and Russia – have expressed their intention to increase oil production against the background of steady growth of the market due to geopolitical supply risks from Venezuela and Iran.
The pressure on the oil market is also influenced by evaluation of the API that for the week to 8 June, the oil reserves in the U.S. fell by 730 thousand barrels, while analysts had expected reduction rate of 2.7 million barrels.
The ruble after the European session is trying to recover ground against the major reserve currencies. Attempts to stabilize the oil for about 76 dollars a barrel to help the ruble.
In the end, the ruble price of oil remains at around 4750 per barrel for Brent.
The dollar 14.54 GMT almost unchanged around 62,84 of the ruble, the Euro was down 0.3% to 73,85 ruble.
Until the end of the day, the U.S. currency will fluctuate in the range of 62.3-63.3 rubles, Euro – corridor 73,25-74.45 ruble.
____________
Ivan Marchena,
Analyst
GK Forex Club