The Russian Ruble drifted lower against the U.S. dollar in the European session on Thursday, as oil prices weakened following a data showing a modest fall in crude inventories last week.

Data from the U.S. Energy Information Administration showed that US stockpiles fell by 930,000 barrels to 527.8 million last week, less than the 2.3 million-barrel draw forecast by economists. The data renewed skepticism over output cuts by the OPEC to rebalance oil market.

The Russian Ruble slid to 57.77 against the greenback, its weakest since March 22. If the Russian Ruble extends fall, 59.00 is likely seen as its next support level.

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