Brent oil price rises above $48 per bbl, Russian ruble grows

MOSCOW, Nov 21 (PRIME) -- The Brent oil price increased 2.62% to U.S. $48.09 per barrel as of 4.35 p.m. Moscow time on Monday, the first increase above a $48 per barrel mark since November 2, according to the trading data seen by PRIME.

The Russian ruble grew in line with the oil, by 65 kopecks to 64.04 rubles per U.S. dollar and 37 kopecks to 68.12 rubles against the euro as of 4.45 p.m., according to the Moscow Exchange.

Russian President Vladimir Putin said previously that the country is ready to limit its oil production at the current level, which will not hurt the oil industry. Moreover, there are already no serious disagreements between the world’s key oil producers, which makes it probable that an agreement on an oil output freeze will be made at the next meeting of OPEC and non-OPEC countries, he said.

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