Russian stocks may rise backed by oil growth before OPEC+ meeting

MOSCOW, Jul 1 (PRIME) -- The Russian stock market may advance at the opening on Thursday thanks to the support of rising crude prices, and will follow the OPEC+ decisions later in the day, analysts said.

“Considering the results of the previous trading session, we can assume that the MOEX Russia Index can open slightly above Wednesday’s closing,” Director of BCS Broker’s stock market experts department Vasily Karpunin said.

The external background looks mixed. The main U.S. indices were flat, Asian markets are trading in the negative territory, and the Brent oil price is adding 0.3% to around U.S. $74.8 per barrel, he added.

Alor Broker analyst Alexei Antonov also said that the Russian market may advance at the opening and will then wait for decisions of the OPEC+ ministerial meeting, which will discuss further growth of oil production by the alliance after August.

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