Since the beginning of Thursday, 28 may, the international price of oil fell in the range of 2-3. 5 percent after the American petroleum Institute (API) on the stocks in the United States, according to the auction on the ICE exchange.
Brent on the minimum fell to 33.64 per barrel, then, as of 9:30, corrected to 34.21 USD. WTI reached 31.18 dollar, then increased to 31.95 USD.
Official data on commercial stocks from the U.S. Department of energy will be available in the evening. API estimates the increase in volumes of 8.7 million barrels.
Also on the negative market reaction could affect a telephone conversation of Russian President Vladimir Putin and crown Prince of Saudi Arabia Mohammed bin Salman. In the Kremlin confirmed that the interaction was due to the situation on the energy market.
The conversation took place against the background of information from several sources that countries differ in their parameters of the transaction OPEC+ since July. Saudi Arabia and its partners want to extend the reduction of production at 9.7 million barrels per day, even though the contract after a month it should drop to 7.7 million barrels. Russia has not yet made a final decision, however, according to Bloomberg, inclined to increase production.
The last time Putin and Ibn Salman said at the beginning of March. Then in the relationship of OPEC and Russia developed a similar situation. The Kingdom wanted more reductions, and Moscow has offered to adhere to the agreements reached. The parties were unable to agree that ended with the cancellation of the transaction, the price war and drastic fall in prices.
Video, photo All from Russia.