Market Outlook

The Russian equity market and the ruble continued increasing due to continued rebound in oil prices. The rumor of a potential coordinated cut in oil production by Russia and OPEC was one of the factors supporting this rebound.
The Russian equity market rebounded on the back of a surge in oil prices, which recovered towards the end of the week from the lows last seen in 2003.
The Russian equity market was hit by a 15% drop in oil prices last week, on the back of intensifying concerns around Chinese growth, increase in oil inventories in the US, as well as anticipation of lifting the sanctions from Iran.