Oil has approached the price of 2010

The price of the November futures on the North Sea oil mixture of the Brent Crude Oil brand decreased by 2.33 percent to $ 88.16 per barrel, approaching the minimum of 2010 - $ 88.15 per barrel, RIA Novosti reports. The cost of November futures for light oil of the WTI brand fell by 0.92 percent - up to $ 85.04 per barrel.

Analysts associate the fall of oil futures with a decrease in oil prices by Saudi Arabia. They also explain the reduction of the market by the return of Libya and the increased production of shale hydrocarbons in the United States.

Over the past month, Saudi Arabia has reduced the cost of oil for its buyers to the minimum level since 2008, which caused a drop in world prices. Saudi Arabia is ready to pursue a pricing policy at the level of $ 80-90 per barrel for another two years.

The day before, the head of the Central Bank Elvira Nabiullina said that the Bank of Russia is developing an additional "stress" economy development scenario, which involves reducing oil prices to $ 60 per barrel.

The growth of economic activity in Russia is not backed up by the appropriate increase in labor productivity, the head of the Central Bank believes. “We cannot grow further extensive. Growth can only be based on increasing labor productivity, increasing efficiency,” she emphasized.

Nabiullina admitted that interest rates on loans, especially for investment purposes, are high. "Little long loans. But we must be aware that reducing rates on loans can only be partially achieved at the expense of monetary policy, requires a comprehensive approach, including a number of structural changes, primarily in the real sector of the economy," she said.

An attempt to artificially record the ruble course is fraught with more sharp falls of the course and will adversely affect the economy, Nabiullina believes. “We will constantly monitor the situation. It is under control, and if there is a need to intervene. But to spend gold and foreign exchange reserves in a short period of time is ineffective. This is the price for fixing the course,” she said. The head of the Central Bank again announced the absence of plans to introduce restrictions on the movement of capital. “Rumors are absolutely groundless. We do not plan, do not discuss and are not going to introduce restrictions,” Nabiullina said.

On October 10, the Central Bank moved 25 kopecks up the borders of the floating currency corridor of the bivalyut basket, reports TASS. Now they are defined in the interval of 36.25-45.25 rubles. Since the beginning of October, the Bank of Russia has moved the boundaries of the currency corridor to 85 kopecks. When the volume of accumulated interventions of the Central Bank on one of the borders of the corridor reaches 350 million dollars, the boundaries of the corridor are automatically shifted to 5 kopecks.

On Monday, the price of Brent oil fell to $ 87 per barrel - a minimum in four years, but then a little played losses and set at 88.9. The fall occurred against the background of information about the reduction of oil prices supplied to Asia and Europe. Since the beginning of 2014, Brent has fallen in price by almost 20 percent.

On Sunday, the Vice-President of Public Relations of the Rosneft Corporation Mikhail Leontyev said that the dynamics of oil prices that develop over the past few months cannot reflect the objective trend . According to Leontiev, the price of oil falls due to political manipulation of Saudi Arabia. In addition, a cheap "stolen" oil of the Islamic state enters the market.

Leontyev admitted that the intake of the US market of a large amount of oil, including from shale fields, is a long -term factor. However, he again repeated that capital investments in the production of shale oil, like shale gas, were much higher than in ordinary deposits. Leontyev also said that prey is shifting to hard -to -reach places, which also increases the cost of prey.

According to Leontiev, a further drop in prices will lead to the fact that such projects will be frozen. As a result, oil deficiency is formed on the market, and prices for it will increase again.