The price of the euro grew by 0.48 rubles and reached 58 rubles for the first time since November 20. the value of the dollar increased by 0.085 rubles to 46.49 rubles compared with trading yesterday. The value of the bi-currency basket ($0.55 and 0.45 euros) dropped by 0.34 rubles to 51.67 rubles. Thus, the dollar exceeded the official currency rate by 1.51 rubles, the euro by 2.12 rubles, Interfax reports.
In the second half of yesterday the dollar gained 1.27 rubles, the euro gained 1.56 rubles. The weakening Russian currency may be affected by fears that OPEC members would not support oil prices. Extraction of oil may drop by about 300,000 barrels a day, The Wall Street Journal says.
OPEC may support the decision, but it would hardly suit Venezuela and Iran. The two states need oil to cost over $100.
Oil prices dropped to $80 per barrel. OPEC states extract 30 million barrels daily. As of October, countries were extracting an average of 30.97 million barrels. OPEC was exceeding the quota for 5 months in a row.
Russia and Venezuela failed to reach an agreement on oil extraction at a meeting in Vienna yesterday, provoking a new drop in oil prices. OPEC will soon start a conference and make the key decision on quotas for oil extraction.
The price for the euro grew by 0.48 rubles and reached 58 rubles for the first time since November 20. the value of the dollar increased by 0.085 rubles to 46.49 rubles, compared with the trade yesterday. The value of the bi-currency basket ($0.55 and 0.45 euros) dropped by 0.34 rubles to 51.67 rubles. Thus, the dollar exceeded the official currency rate by 1.51 rubles, the euro by 2.12 rubles, Interfax reports.In the second half of yesterday, the dollar gained 1.27 rubles, euro gained 1.56 rubles. The weakening Russian currency may be affected by fears that OPEC members would not support oil prices. Extraction of oil may drop by about 300,000 barrels a day, The Wall Street Journal says.OPEC may support the decision, but it would hardly suite Venezuela and Iran. The two states need oil to cost over $100.Oil prices dropped to $80 per barrel. OPEC states extract 30 million barrels daily. As of October, countries were extracting n average of 30.97 million barrels. OPEC was exceeding the quota for 5 months in a row.Russia and Venezuela failed to reach an agreement on oil extraction at a meeting in Vienna yesterday, provoking a new drop of oil prices. OPEC will soon start a conference and make the key decision on quotas for oil extract
