The price of Brent crude fell below $25 per barrel

the Cost of may futures for Brent crude during trading on London exchange ICE fell by 6.19% to 24.71 per barrel, follows from data of the marketplace.

the Price of oil WTI by this time was cheaper to 21.52 per barrel, decreasing by 4.78%, reports “Interfax” .Saudi Arabia, as reported to Agency a source in the market has already contracted for April sales to 12.3 million b/d compared to 9.8 million b/d in March.

the Ministers of energy of Russia and Saudi Arabia had no contact about the involvement of other countries in OPEC+, and did not discuss a joint agreement on balancing the oil market, told reporters the representative of the Ministry of the Kingdom.

we will Remind, the experts interviewed by Bloomberg, on Friday warned that the world is on the verge of exhaustion of free space to store unclaimed oil – this will happen only after three months.On the background of falling oil prices, the dollar and the Euro are strengthening against the Russian ruble. So, the dollar grew to ruble 78,81 (+1,73%) and Euro to the ruble of 86.51 (+1,29%).

If the price of oil will stay at $ 25 for two to three years, this will give Russia a big problem, said Deputy Minister of energy Pavel Sorokin in an interview with RBC. According to him, the price increase will depend on the situation of coronaviruses will be able to withstand the price of oil within six months of the year thanks to flexible system of taxation (approximately 65% of the price of oil in taxes receives the budget and not the oil companies.

the budget will receive less revenue, but Russia has accumulated significant foreign exchange reserves, explained the Deputy Minister. To survive a difficult period of industry will help the devaluation, he acknowledged.