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Latest News - #The situation with exchange rates and oil prices

Weakens OPEC limits oil production

OPEC August 1 will begin to check the stability of the recovery of the oil market: the Alliance will move to the second stage started in may of the deal to reduce output, which is the easing of restrictions with unprecedented 9.7 million million barrels per day to 7.7 million.

It is expected that this phase will last until the end of the year and to avoid excessive overheating of the market. As reported by Minister of energy of Russia Alexander Novak, in July, the oil market was fairly balanced and was able to go in a shortage of supply due to transaction-OPEC and reduce oil production in several other countries.

Experts told whether to expect the Euro to $ 90

The Euro a few overheated, and while we should not expect its strengthening in the area of $ 90, believe polled by RIA Novosti experts.

The Euro on Monday updated its maximum since April, rising to 84.48 ruble. On Forex the European currency highs from September 2018 and has already been raised earlier in the week to 1,1764 dollar.

The price of Brent crude oil rose to the accounting period by 43.46 per barrel

World oil prices on Friday morning are rising due to cheaper dollar, which supports demand for commodities, according to the auction.

As at 8.05 GMT, the September futures price for North sea petroleum mix of mark Brent has grown on 0,35% - to the accounting period by 43.46 per barrel, the September futures for WTI rose in price on 0,15% - to 41,13 per barrel.

Experts said the impact on the ruble exchange rate reduction of the key rate

Expected on 24 July, the reduction of the key rate of the Central Bank will have little impact on the exchange rate, however, the comments of the regulator on the prospects for monetary policy will be the main reference point for exchange rate dynamics, according to respondents RIA Novosti experts.

At the next meeting of the Board of Directors of the Bank of Russia July 24, we expect another reduction of the key rate from the current 4.5% per annum, to which the indicator came last June - a meeting of the Board of Directors. Then the rate was reduced from 1 percentage point for the first time in five years to a historic low.

Novak called the world oil market stable

The oil market is balanced and stable enough in June, the decline in demand due to coronavirus was 10 million barrels per day to 25 million barrels per day in April, said the head of the energy Ministry of Russia Alexander Novak.

"We see that the market and demand is restored. If in April the decrease in demand was approximately 25 million barrels per day in the whole world, today this recovery has occurred to a greater extent, and in the month of June we observed a decrease in demand by about 10 million barrels," - said Novak at the press conference following the meeting of the Committee of Ministers on monitoring of OPEC .

Experts have told that worse for the ruble: the risks of sanctions or COVID

Russia for several years already more or less adapted to the sanctions, therefore, the risks of a second wave of coronavirus and new quarantine measures are more dangerous to the ruble than the possible new Western sanctions against Russia, believe polled by RIA Novosti experts.

Currently the exchange rate is affected by several factors: oil prices, output non-residents of the OFZ, coronavirus and possible sanctions because of the "Nord stream -2", says head of personal brokerage services "BCS" Sergei Kuchin.

Analysts have predicted the rise in oil prices to 150 dollars per barrel

After a volatile beginning of the year for oil prices may in the future climb above $ 100 per barrel and reach $ 150 by 2025, allow analysts quoted by the newspaper Wall Street Journal.

As writes the edition, some experts predict a fall in investments in oil and gas production, which can lead to price spikes above $ 100 per barrel. "This financial pressure will be significant. Some manufacturers will be really difficult to implement mining... Prices can quite easily reach $ 150 by 2025", - the newspaper quoted Director of the Northern investment Capital Trace Trevor wood (Trevor Woods).

The ruble has updated the lows since spring

The ruble has significantly reduced the dollar and Euro amid falling oil prices.

American currency calculations "tomorrow" on 21:04 GMT rising 94 cents, to 71.5 ruble, the Euro by 1.04 ruble to 80,37 of the ruble, follows from the data of the Moscow exchange.

Rosstat said to reduce the growth rate of gasoline prices

The average retail price of gasoline in Russia has decreased the growth rate: 22 to 28 June, it increased by 5 cents compared to the previous week to 45.18 rubles per liter, and diesel rose by 3 cents, to 47,88 rubles per liter, according to the materials Rosstat.

In the second half of may, gasoline in Russia rose in price by 1-2 pennies a week, in the first week of June - 6 cents, then 8 cents, and in the previous reporting week, the growth rate of prices and it reached a peak at 13 cents.

The Ministry explained why I try not to spend NWF

The Finance Ministry has accumulated in the national welfare Fund (NWF), more than 12 trillion rubles, however, to Finance overheads prefers to increase borrowing, rather than spending the resources of the Fund, as it sees risks, including stability of the ruble, said Deputy Finance Minister Vladimir Kolychev.

The amount of the Fund on June 1, was 12,161 trillion rubles.

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