Brent crude rose above $ 35 a barrel

The rise in oil prices in the course of today's trading accelerated on the news from Russia, reports Bloomberg.

Saudi Arabia at the previous meetings, OPEC suggested producing countries reduce oil production by 5%, according to Energy Minister Alexander Novak.

Whether there was any proposal for OPEC's planned meeting in February, he said. "This is precisely the subject of discussion"- said the Minister.

President's press secretary Dmitry Peskov, commenting on the possible coordination with OPEC on the oil market and the reduction of production volumes, said "This topic is now being actively figures". "while not specifically say in terms of what the application, but the theme of instability and volatility in the oil markets actively discussed", - he said.

"The market is no longer look at the world's excess and think more about the future supply-demand balance, the difference between them in the second half of the year will decrease, - says oil analyst Olive Zhakob Petromatrix. - If OPEC and Russia are really starting negotiations, which means that the equilibrium in the market can recover a little earlier than expected".

Quotations of March futures for Brent crude on London's ICE Futures exchange to 17:12 MSK rose by $ 1.93 (5.83%) - up to $ 35.03 per barrel.

Contract prices for WTI for March in electronic trading on the New York Mercantile Exchange (the NYMEX) at this time increased by $ 1.62 (5.02%) - up to $ 33.92 per barrel.