After the head of the Ministry of energy of Russia Alexander Novak about the possible suspension of oil production in March this year, the stock prices of oil increased sharply.
The first day of spring was marked by the rise in oil prices, given that in February was recorded in a local minimum. On the Intercontinental exchange (ICE) futures for oil of mark Brent with delivery in may reached 36,81 USD per barrel, an increase of 0.6%.
One of the key reasons of growth of quotations was a message to the head of the Ministry of energy of Russia Alexander Novak. He stressed that in March, during the discussion leading producing countries may agree to the suspension of oil production. He also said that at present, more than 15 States have already made with your consent. In accordance with public statements, we can say that exporting countries — 73% of the physical volume of oil production agreed to the suspension. This critical mass of countries that can agree.
Then this March will be negotiated with other countries-OPEC and individual oil-producing States for final decision.