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The downward momentum of "black gold" prices continues.
Oil prices continue to fall steadily. On Thursday, December 6, they fell below the $ 60 a barrel mark Brent.
The uncertainty of OPEC regarding production cuts is affected. Discussions between representatives of the oil-exporting countries will continue Friday, together with Russia and other countries not part of the oil cartel. According to available information, OPEC countries signed an oil reduction agreement Thursday, but have not yet agreed on a cut. One of the delegates of the meeting said in Vienna. Saudi Energy Minister Khalid al-Falih said that OPEC hoped to reach an agreement by the end of Friday, but added that members of the organization could not reach an agreement without a compromise with Russia.
Khalid al-Falih also said that the question was how many cuts were ready for Russia and when that would happen. At the same time, the head of the Mingenergo of Saudi Arabia has called for a sufficient reduction in production of one million barrels a day. At the same time, Iran's oil minister, Bijan Namdar Zangan, said his country would not participate in the reduction of production until US sanctions were lifted. Al-Falih said that oil producers are considering all options, including the waiver of the agreement if consent can not be reached.
The February Brent futures contract on the London Stock Exchange ICE futures fell from $ 2.05 (3.33%) to $ 59.51 per barrel. The WTI futures price in January on NYMEX New York Mercantile Exchange fell 2.13 USD (4.03%) to settle at 50.76 USD per barrel. oil
