London experts explain a sharp fall in oil prices on Friday by the fact that the market expected Russia to reduce oil-extraction and export volumes by at least 100,000 barrels a day. The trades currently continue at a dollar below the prices set on contracts for oil deliveries in January-February on the results of Wednesday trades - USD 19.9 and USD 19.83. London City experts suppose that further dynamics of the oil market will depend on OPEC reaction towards the Russian government decision to cut oil-extraction and export volumes. Experts expect the OPEC to make such a statement soon. Moreover, they believe that the statement of Norway specifying the terms and volumes of reduction of oil extraction and exports may also affect market oil prices.
At the request of Ukraine, Turkey detained a Russian-flagged cargo ship as it was carrying grain from the port of Berdyansk. The problem will exacerbate when Recep Erdogan leaves politics.