- Russian oil company CEO says oil price could reach $25 per barrel
- OPEC expects decline in demand for oil from its member-states in 2015 to 28.8 mln bpd
- Russian stock indexes fall as market waits for S&P decision on Russia's rating
- Brent oil price rises to $49 per barrel, March futures trade at over $50
- Russia’s GDP may fall 5% in 2015 at $40 oil price — ministry
LONDON, January 16. /TASS/. The price of the benchmark Brent crude exceeded $50 per barrel on the Intercontinental Exchange (ICE) in London on Friday.
Brent futures for March delivery increased by 3.6% as of Friday afternoon to $50.07 per barrel.
Thursday was the last day for trading of the Brent futures for February and trading of futures for March delivery actively started on Friday.
Oil prices showed an upward correction on Wednesday when Brent went up by almost 5% to $48.89 per barrel, after which it started to fall again.
Oil prices were also supported by the OPEC January outlook, which raised the world oil cartel’s estimate of global demand for oil in 2015 to 92.3 million barrels per day from 92.26 million barrels per day.
At the same time, OPEC experts lowered the oil cartel’s outlook for OPEC oil demand by 100,000 bpd to 28.8 million bpd.