Oil stabilizes as Russia cuts supplies and the dollar declines. Oil prices fell slightly during today's trading after rising yesterday.
A decline in the dollar usually leads to a decrease in the cost of purchasing oil in other currencies, which may boost overall demand. Russian oil company Rosneft closed a crude oil production unit with a capacity of 70,000 barrels per day at its Kuibyshev refinery in the city of Samara. The price of a barrel of Brent crude rose 1.5% in yesterday's session.