OPEC countries agreed to freeze oil

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limitation of oil production, freezing oil, OPEC agreement, rising oil prices and the strengthening of the ruble, falling dollar, the depreciation of the euro, as agreed by OPEC countries in 2016 year

29 of September. On the eve of the country of the Organization of Petroleum Exporting Countries (OPEC) agreed to establish limits to the volume of oil production in November 2016. It is reported by Reuters, citing a source in the Organization. Limiting the average daily oil production of 32.5 million barrels (compared with the current 33.24 million barrels).

Meeting of heads of OPEC lasted about 4 hours. The agreement on the limitation of oil production was the first in 8 years.

Countries - OPEC member plans to further reach out to other countries - exporters of oil to accede to this agreement.

Against this background, on the eve of the euro against the ruble in the course of trading on the Moscow stock exchange dropped to 70.74 rubles (ie, as compared to the previous closing level of trading - 89 cop.).

Brent crude oil at the auctions has risen by almost 5% - to $ 48 per barrel, WTI crude oil has risen to $ 46.4 per barrel.

limitation of oil production, freezing oil, OPEC agreement, rising oil prices and the strengthening of the ruble, falling dollar, the depreciation of the euro, as agreed by OPEC countries in 2016 year

Iranian Oil Minister Bijan Zanganeh said that "OPEC has taken the exceptional decision. After more than two years of negotiations, the OPEC countries have reached an agreement to settle the market. We agreed to reduce oil production by 700 thousand barrels per day, "-. According to" Interfax ", the words Bijan Zanganeh.

Some countries (Nigeria, Libya and Iran) can get the right to produce oil at the maximum sound levels.

It is expected that the final position on the limitation of oil production will be agreed at the next formal meeting scheduled for November 30 in Vienna.

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