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Russian oil fell to the lowest level since 1999

Российская нефть подешевела до минимума с 1999 года

Friday, March 27, the Russian Urals crude oil was trading at 16.2 per barrel. For the week, it fell to 5.51 dollar, so the price is back to 90-ies of the last century. Below contracts for Urals was only in June 1999, according to the petroleum information Agency Argus.

The Brent oil price on the stock exchange on 30 March fell to 22.58 per barrel. This is the lowest level since November 2002, writes Reuters. Brent later played the fall and increased to 22.99 percent.

WTI crude oil price at auction on March 30, dropped to 19.92 per barrel, but later rose to 20.57 USD.

World oil prices began to fall after Russia and OPEC 6 Mar break a deal about the restrictions on oil production. The price decline accelerates coronavirus, quarantine and the associated rupture of the supply chain.

After the price of oil has hit the Russian ruble. On 6 March, the dollar on Masuria traded for 68 rubles, Euro — by 80 rubles. By 30 March the dollar rose to 80 rubles, euros up to 88 rubles.

 

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