OPEC supported the rise in oil prices

The

ministers of OPEC member countries decided to leave without changes in oil production at 400 thousand b / s. The decision makes the decision leads to the preservation of high prices in the oil market. Including, it is beneficial for Russia, but logistic problems may occur. So, Urals grade oil on European stock exchanges is trading today with a discount of 18-20%.

The oil market remains the fear of reducing the supply, which may not be able to recover even the abolition of the embargo against Iranian oil, so in the coming days is unlikely Whether the price of Brent drops much lower than $ 100 per barrel.

High oil prices will create countries of continental Europe, Great Britain and the United States Further inflation growth problem. Brent oil on Ice sharply becomes more expensive and traded above $ 110 per barrel. In the coming days, it is possible to expect the price of Brent to $ 112.5 per barrel.

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