The OPEC decision collapsed by the Russian ruble

To the decision of OPEC to increase oil quotas for oil production, adopted on the eve, instantly responded to black gold prices, which, in turn, provoked another drop in the ruble exchange rate with respect to the American dollar. So, according to the results of yesterday’s trading, on the Moscow Exchange, the course of the Russian currency decreased by 50 kopecks and amounted to 68.26 rubles per dollar. The message about this is published by the online edition “Tape. ru “with reference to the data posted on the website of the trading platform.

Oil production quotas were increased to level 31.5 million barrels per day. As soon as information about the decision of the OPEC has leaked to the network, a barrel of oil of the Brent reference brand, which was before that 44.64 dollars, began to be cheaper instantly, collapsing to a level of 42.76 dollars.

It must be remembered that fluctuations in the cost of oil, which are reflected in the course of the Russian ruble, help foreign exchange traders earn profit. So, in order not to miss the benefit, traders are recommended to use Metatrader 4, which is a mechanical trading system with software advisers-experts.

It should be noted that according to the results of September this year, the oil exporting countries produced 31 daily.71 million barrels, thereby exceeding the installed OPEC quota.

Earlier, Iran, who is one of the members of the OPEC, turned to the countries of the oil exporters with an appeal to reduce the amount of daily production of black gold to 2 million barrels. As the Iranian Minister of Oil said, this measure could have a beneficial effect on the global oil market, which is currently characterized by an excessive offer.

In the middle of the past months, the head of the Russian Ministry of Finance Anton Siluanov announced that in the event of a further fall in oil prices, the revenue of Russia’s revenue for next year will not be read another trillion rubles, which will significantly strengthen the shortage of funds.

Recall, the budget for 2016, which involves a deficit of state funds in the amount of 2.36 trillion rubles, was made up on the fact that over the course of next year the average cost of one barrel of oil will be $ 50.