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Brent crude price exceeded $81 per barrel, first time since November 2014

The current price stands at $81.17

MOSCOW, September 24. /TASS/. The cost of the futures for Brent crude oil deliverable in November 2018 rose by 2.9%, to $81.17 per barrel, according to the data of the ICE Exchange in London.

The last time the price of oil of this blend was above $81 per barrel on November 21, 2014.

Amid the growth of the Brent price, the ruble is strengthening against the dollar and the euro.

The dollar to ruble rate fell by 0.9% to 65 rubles per dollar, the euro rate fell by 0.8% to 77.45 rubles.

On September 23, at a meeting in Algiers, the ministerial monitoring committee of OPEC + did not consider the increase in production above 1 mln barrels per day. On the contrary, it warned about a possible return to oil production restrictions in 2019.

According to OPEC forecasts, next year the market may repeat the scenario in 2014, when surplus stocks led to decline in oil prices. OPEC + will hold an emergency meeting in November to assess the optimal level of production for 2019.