Brent oil price fell below $ 54 per barrel, WTI below 50

The cost of Brent varieties on January 5 has twice updated the minimum of the spring of 2009, RBC reports. At the auction on the ICE exchange in London in the first half of the day, the cost of Brent oil futures with the supply in February 2015 fell into 2.86% to 54.85 dollars.

In the afternoon, the fall continued. According to the data at 17:35 Moscow time, the barrel of oil of this brand was trading at $ 53.91. This is a new record minimum of May 2009.

The cost of supplies of Texas light oil (WTI) for February sank today at auction in New York below $ 50 per barrel

Last week at auction in London and New York, oil and WTI oil prices have fallen to the lowest level over the past 5.5 years. Over the past year, Brent has fallen in price, according to various estimates, by 46-48%.

Analysts call the exceeding the demand for demand for the fundamental cause of the fall in prices. In the December report, OPEC reports that the demand for OPEC oil in 2015 will be minimal in 12 years. The Iraqi Ministry of Oil on Sunday reported that it intends to increase oil exports this year. In December last year, the volume of Iraqi oil exports amounted to 2.94 million barrels per day, which has been a maximum since the 80s.

“Increase in Iraq production is one of the factors that contribute to the formation of an excess of oil in the world market,” the Interfax quotes the analyst in the raw material sector Samsung Futures Inc. in Seoul Hong Sung Ki. - excess will probably remain if the demand for demand supply of oil to the market. ”

Last week, the Minister of Oil Saudi Arabia Ali An -Nuiami confirmed that the organization of oil exporters (OPEC) would not reduce production, even if oil prices drop to $ 20 per barrel.

On January 2, the Ministry of Energy of Russia reported an increase in December by 0.3% of oil production in the country. Thus, Russia currently mines the record for the post -Soviet period of 10.667 million barrels per day.

As the oil prices fall, the Russian ruble continues to weaken . On Monday, the first bidding this year began with a sharp strengthening of the dollar and euro. Then the ruble was slightly strengthened, but, according to the data at 15:30 in Moscow, the dollar and euro resumed growth.