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New growth records

Anna Kokoreva, the director of the analytical department of Alpari:. The price of Brent crude returned to around $56 per barrel.

17.Apr.17 6:26 AM
By Christina Orlina


New growth records
The cartel provided its forecasts for oil production in the world in 2017. Thus, countries that not included in OPEC, will increase oil production from 57,32 of 57.89 million to million barrels a day. Russia, according to a report in the current year will increase production from 11.1 million to 11.14 million barrels per day.

In the United States stopped the growth of commercial oil reserves. At least at the end of last week, there was a decrease of 2.16 million barrels, which slightly supported the quotes. So we are again waiting for the lateral movement of Brent in the range of $56-57 per barrel.

In terms of stability in the oil market, the ruble will continue to rise unless there is a major change in Euro/dollar, and those, too, are expected. The other day Donald Trump suddenly announced that US does not need a strong dollar, to which the latter naturally reacted by falling, and the ruble and other currencies of developing countries. During the week there will be a block of macrostatistics of the USA and the EU. The most important for them will be the inflation data in the EU.

The instability brings only a one-time fluctuations on the currency market. Such a reaction is possible in the future, but to guess what exactly will investors react in the case of politics, is much more complicated.

In view of the foregoing, we are inclined to believe that this week the ruble will continue to strengthen. The pair dollar/ruble will be traded in the range of 53-56 RUB EUR/RUB may be reduced in the area of 57.5-59 RUB

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