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Brent falls below $33 per barrel on Moscow Exchange

February 16, 18:28 UTC+3
The dollar rose by 1.12 rubles to 78.08 rubles, while the euro grew by 1.18 rubles to 86.98 rubles
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© Sergei Bobylev/TASS

MOSCOW, February 16. /TASS/. The dollar rose by 1.12 rubles to 78.08 rubles on the Moscow Exchange on Tuesday. The euro grew by 1.18 rubles to 86.98 rubles.

Earlier on Tuesday, the dollar was falling by 97 kopecks to 75.98 rubles on the Moscow Exchange at the opening of trading on Tuesday, dropping below 76 rubles for the first time since February 4. The euro - by 94 kopecks to 84.86 rubles.

The price of Brent crude oil futures contract for April delivery falls by 1.77% on London’s ICE to $32.8 per barrel.

The ruble started to decline following the oil prices after the reports about the talks between Russian Energy Minister Alexander Novak and representatives of the Organization of the Petroleum Exporting Countries (OPEC) member-states in Doha (Qatar capital) that resulted in an agreement to freeze oil production at the level as of January 11.

Russian Energy Minister Alexander Novak said earlier that Russia, Saudi Arabia, Qatar and Venezuela are ready to freeze oil production at the level of January, if other oil-producing countries join this initiative.

"After the meeting, four countries - Russia, Saudi Arabia, Qatar and Venezuela - are willing to freeze oil production at the level of January, if other manufacturers join the initiative," the Russian Energy Ministry reported his words.

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