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The price of oil fell below $ 40 per barrel

Цена на нефть упала ниже 40 долларов за баррель

Oil prices fell a fourth consecutive session in the course of trading on the exchange ICE. Brent 10:22 MSK fell 1.1 percent to 39,83 dollars per barrel for the first time in a week once below 40 dollars. Mark WTI fell by 1.03 per cent to 38,99 USD per barrel.

As informs “Interfax”, the fall occurs in the investor expectation of publication by fuel in the U.S. market. According to analysts, they can again show growth.

Since the beginning of February, oil has risen by almost half, but this process was not accompanied by improvement in market fundamentals. The situation with supply and demand since then has not radically changed.

February 16, Russia and several OPEC members (Saudi Arabia, Qatar, and Venezuela) agreed to freeze oil production in order to support the quotation, subsided for a year and a half by 70 percent. Russian energy Minister Alexander Novak said that over 15 countries have publicly confirmed readiness to freeze oil production at the level of January 2016.

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