Rosneft privatization deal is completed — KremlinBusiness & Economy December 07, 21:06
Contact Group focuses on demining, creation of new security zones in Donbass — OSCE envoyWorld December 07, 20:57
Russian Defense Ministry reports 70% of eastern Aleppo under control of Syrian armyWorld December 07, 20:21
Moscow slams Polish FM's remarks on NATO-Russia Council meeting — sourceRussian Politics & Diplomacy December 07, 20:12
IOC extends doping-related sanctions against RussiaSport December 07, 19:35
Russian oil companies back Energy Ministry proposal on limiting oil production — ministerBusiness & Economy December 07, 18:42
Syrian troops take full control over 47 quarters of eastern Aleppo — ministryWorld December 07, 18:36
Sberbank head expects oil and gas prices to continue to fallBusiness & Economy December 07, 18:26
Russian sappers start clearing eastern Aleppo from minesMilitary & Defense December 07, 18:17
LONDON, December 11. /TASS/. The cost of the futures contracts for January 2016 delivery of Brent crude oil on London's ICE trading decreased by 2.06% to $38.92 per barrel, breaking the mark of $39 per barrel for the first time since December 2008
The decline of Brent crude oil price accelerated after the OPEC meeting on December 4. At the end of the 168th meeting in Vienna, OPEC oil ministers have not taken a clear decision on production quotas because of the position of countries that are not members of the organization. Currently, the volume of oil production by OPEC members is estimated at 31-32 mln barrels per day. Previous quota stood at 30 mln barrels per day.
The ruble declines against the background of falling oil prices. Thus, the dollar rose to the level of 69.96 rubles, increasing by 81 kopecks. The decision of the Russian Central Bank on maintaining the key rate at the level of 11% holds back the accelerated fall of the ruble. At the same time, according to the regulator, annual inflation in 2016 and 2017 will be held down by weak consumer demand and moderately tough monetary environment. Russia’s financial regulator projects annual inflation rate to stand at around 6% in end-2016 and reach the target of 4% in 2017.