Oil fell below $ 49 per barrel

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Нефть упала ниже 49 долларов за баррель

The price of Brent crude oil fell below $ 49 per barrel. This is evidenced by the Intercontinental exchange ICE. In recent times quotes Brent fell below $ 49 per barrel on September 27 this year.

October 31, as at 18:00 Moscow time the cost of the December futures for North sea Brent blend made up of 48.37 per barrel, which is 2.77% below the closing level of the previous trading session.

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Quotes fuel falling after the technical meeting of representatives of OPEC in Vienna on 28 October, the final decision on the oil quota was not produced.

A day earlier, Russia has notified the Gulf countries, OPEC, that will not cut oil production. Moscow said it was willing to freeze production at current levels.

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In late September, OPEC agreed to freeze oil prices. Cartel members set the production ceiling at the level of 32.5 million barrels a day. The final agreement should be signed at the meeting in November.

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