Rouble rate is important factor in Russia’s position on OPEC+ deal – Reuters


Russian oil companies are worried about the risk of a higher rouble rate due to the planned sales of Sberbank, Reuters reported on Friday, citing a source familiar with the matter.

Companies also believe the rouble rate is an important factor in Russia’s position regarding the OPEC+ output cut agreement.

“A lot of dollars will come to the market, boosting the rouble, so ‘a rouble barrel’ will become cheaper,” one of the sources explained Reuters.

Market reaction

The market reaction to this headline was muted. As of writing, the barrel of West Texas Intermediate was trading at $51.88, adding 0.75% on the day and the USD/RUB pair was down 0.09% on the day at 63.5838.

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