Russian Stock Market May Face Deeper Correction Than Experts Expected

A correction is continuing on the Russian stock market. The trade opened against the background of a new fall in prices today. Negative news from foreign markets continues to have a noticeable effect on the situation on the Russian stock market. Many experts are particularly concerned about the continuing decrease in oil prices and the growing tension between OPEC and independent exporters. "In the present situation a new destabilization on the oil market can be a painful blow to Russian securities, primarily, shares of oil companies. If it turns out at the beginning of February that OPEC does not observe the new production quotas, and independent exporters make every effort to evade the earlier achieved agreements, oil prices may fall again, and the short-term prospects for our market will become rather gloomy. So far, we have been observing a correction after a fast rise in the recent weeks, but one cannot rule out the possibility that it will turn out to be much deeper than is expected," traders suspect.