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Oil Summit In Doha
April 12, 2016 22:21


The ruble is expected to gain in strength if the summit of countries-exporters that will take place this Sunday in Doha will go well and the countries will agree to freeze the level of oil extraction. In this case the cost of a Brent barrel will be $45 which is 65 rubles per dollar, believe CIB analysts Tom Levinson, Dmitri Kolomitsyn and Iskander Lutsko.

The participation of Iran can even increase the price of a Brent barrel to $50. In this case the dollar will drop even lower than 65 rubles. In the review the analysts mention that the ruble will not go any higher due to the decrease of CB rates. “If the negotiations in Doha fail, the Brent price can drop to $35 per barrel or even lower. In that case the dollar will cost 70-75 rubles. In any case we don’t see the oil prices drop below $30” Sberbank CIB reports.

On Sunday the 17th of April the representatives of the oil extracting countries will gather in Doha (Qatar) to discuss the freeze of oil extraction. It is very likely that Iran will also join in the negotiations.

According to the Sberbank CIB analysts the probability that Iran will not join the negotiations is 35%. More than that, the possibility that the countries decide not to freeze the prices is estimated to 20%. At the same time the possibility that Iran will agree to freeze the extraction is estimated to 15%.


Author: Anna Dorozhkina

Tags: Russian oil and gas industry     

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