Oil prices continued to rise yesterday after the OPEC+ alliance decided to cut oil production by 2 mln bpd. In the evening Brent and WTI added 1.82% and 1.51%, respectively. The quotes were demonstrating high volatility immediately after the news release, moving from growth of 1.5% to decrease, but in the evening they resumed positive dynamics.

The new quotas will take effect in November. The levels in effect in August will be used as the basis for reducing production, Prime writes. This is the first reduction of this magnitude in the past two and a half years, said Russian Deputy Prime Minister Alexander Novak, quoted by the news agency. He said the goal of the measure is to stabilize the oil market, especially in anticipation of the coming cold season, a period when demand usually declines and supply adjustments are required.

The main U.S. and European stock indices finished Wednesday's trading with losses - the U.S. lost 0.14% - 0.25% and the European lost 0.48% - 1.21%.