The Russian ruble is tumbling on Thursday.
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The ruble is tumbling as oil prices drop to their lowest level since November
The Russian ruble is weaker on Thursday.
The petrocurrency is down by 1.1% at 58.0171 per dollar as of 8:09 a.m. ET.
Meanwhile, oil prices are at their lowest level since November.
Kremlin spokeman Dmitry Peskov said Thursday Russia hasn't made a decision yet about whether it will extend the agreement with OPEC and non-OPEC countries on cutting production.
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Data from the Energy Information Administration released on Wednesday showed US crude output jumped to 9.29 million barrels per day — the highest level since August 2015. Additionally, crude inventories fell by 930,000 barrels per day, less than analysts' expectations of 2.3 million.
is down by 1.9% at $49.85 per barrel, and WTI crude, the US benchmark, is down by 1.9% at $46.88 per barrel.
Separately in Russia, Markit Services PMI came in at 56.1 for April, below the prior month's reading of 56.6.
As for the rest of the world, here's the scoreboard as of 8:03 a.m. ET:
- euro
- Markit's Composite PMI reading for the eurozone
- British pound
- US dollar index
- Australian dollar
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