Oil prices are still staying at a low level. Showing a downward tendency.
As of 5:02 p.m., Brent blend oil costs 49.16 dollars per barrel and oil of the WTI blend is 43.9 dollars per barrel. At the same time, during the day they fell to 48.25 dollars and 43.57 dollars respectively.
Among the factors that negatively affect the formation of prices is the increase in the number of drilling rigs in the United States, which last week rose by 10 units, or by 1.1%, reaching 884 units. Other exporting countries are also not intending to decrease production.
Today, however, it became known that the OPEC countries are negotiating the possible organization of an extraordinary meeting: although the next meeting in Vienna is scheduled for December 4, but, according to energy minister of Algeria Salah Hebri, an emergency meeting may be convened before that time, even though on June 5 OPEC decided to maintain current oil production quotas.
In an interview with a correspondent of Vestnik Kavkaza, senior analyst of Uralsib Capital Alexei Kokin said that the current decline in oil prices is not catastrophic: "In principle, there were already serious failures this year. For example, in January, prices fell even lower. But at the moment we are seeing the same thing that happened in November-January. It is not the biggest decline," he said.
