The world prices for oil have recently grown by over 2%. Brent is sold at International Currency Exchange in London for over $50 per barrel. The dollar price dropped to 64.66 rubles, euro to 75.20 rubles. Vitaly Kryukov, an analyst of IFD Kapital, opined that the worst moment was over and the market was waiting for the first trader to reduce deliveries of oil to the world market.
The analyst said that Total (France) and Eni (Italy) had declared plans to dramatically reduce investments in extraction and exploration of oil fields.
Kryukov believes that a stable oil prices is the most important factor for Russia. The price of $50-60 is acceptable for the Russian budget, the fall below $40 or around $25-30 would be a major blow for the Russian budget and the petroleum sector.
The expert noted that the change was not that critical when converting income from sales of oil to rubles, considering the currency rate. He emphasized that the price should be in the Russian currency in order to encourage stability and fulfillment of the budget.
The world prices for oil have recently grown by over 2%. Brent is sold at International Currency Exchange in London for over $50 per barrel. The dollar price dropped to 64.66 rubles, euro to 75.20 rubles. Vitaly Kryukov, an analyst of IFD Kapital, opined that the worst moment was over and the market was waiting for the first trader to reduce deliveries of oil to the world market.The analyst said that Total (France) and Eni (Italy) had declared plans to dramatically reduce investments in extraction and exploration of oil fields.Kryukov believes that a stable oil prices is the most important factor for Russia. The price of $50-60 is acceptable for the Russian budget, the fall below $40 or around $25-30 would be a major blow for the Russian budget and the petroleum sector.The expert noted that the change was not that critical when converting income from sales of oil to rubles, considering the currency rate. He emphasized that the price should be in the Russian currency in order to encourage stability and fulfillment of the bud
