Russia’s Dmitriev takes gold in sprint at 2017 UCI Track Cycling World Cup in ColombiaSport February 20, 3:40
Emelianenko-Mitrione bout postponed due to American’s illnessSport February 19, 4:06
OSCE unable to identify perpetrators of cyber attacks against it - secretary generalWorld February 19, 4:02
Russian biathletes win gold in relay at 2017 IBU World Championships in AustriaSport February 18, 18:30
Putin signs decree on recognition of documents given to Donbass peopleRussian Politics & Diplomacy February 18, 17:26
Sberbank CEO says no repeat of crisis in the short termBusiness & Economy February 18, 17:24
Judging by certain statements at Munich Conference, "cold war" is still not over — LavrovRussian Politics & Diplomacy February 18, 15:19
Bout’s lawyers will challenge Court of Appeals’ decision in Supreme Court on February 21Russian Politics & Diplomacy February 18, 7:16
Turkish Minister reproaches NATO for not fulfilling obligations on its south-eastern flankWorld February 18, 7:12
MOSCOW, January 11. /TASS/. Declining oil demand in China, the largest consumer of energy resources, will contribute to the drop of global oil prices, representative of the Russian Ministry of Economic Development told TASS on Monday.
Demand is declining in view of the slowdown of China’s economic growth and reorientation of the growth model from the investment to consuming (domestic demand-focused) one, the representative said.
Risks related to the Chinese economy prompt investors to withdraw funds from emerging markets, he added.
"Expectations of slowdown of China’s economy growth rates to the level not above 6.5% per year coupled with yuan devaluation resulted in China’s stock market fall early this year, with the US stock market responding also by decline," the official said.
Furthermore, lifted ban on oil export by the United States and cancelation of sanctions on Iran also contribute to oil prices drop, he added.
Brent prices with supply in February 2016 fell 4.9% to $31.96 on the London’s ICE on Monday.