Oil prices continue to decline after the statement of Saudi Arabia Prince Mohammed bin Salman, the Kingdom will not freeze the prey up until the same step will not do Iran. According to 16:20 Moscow time, a barrel of Brent crude oil fell to 38,74 USD. The price fell more than four percent compared to the end of the previous trading session. This is according to the exchange ICE.
On the Moscow exchange, the dollar rose to 68,25 ruble (plus 2.2 percent), Euro to 77,69 (plus 1.9 percent). Official exchange rates on April 2 — 67,14 and 76,43 rubles respectively.
Previously April 1, Mohammed bin Salman also said that Saudi Arabia is preparing for “the twilight of the oil age.” The representative of the Royal family announced that the country plans to create a sovereign Fund with a volume of two trillion dollars. The money will be used to get rid of oil dependence.
On 22 March The Financial Times, citing an unnamed source in OPEC said that Saudi Arabia is ready to sign an agreement about freezing of oil production, even if this step will be Iran. Tehran, in turn, intends to cooperate with other countries only after its production will reach four million barrels per day. Currently the country produces 3.22 million barrels per day.
April 17 in the Qatari capital of Doha to meet the largest oil producers. They will discuss the issue of freezing the production. Saudi Arabia, Qatar, Russia and Venezuela have agreed to limit production to the level of January of the current year. Also expressed their willingness to join the agreement Ecuador, Algeria, Nigeria, Oman, Kuwait, UAE.
