Expert: Oil price will fluctuate in corridor of 25-45 dollars / barrel

Vasily Koltashov predicts serious social turmoil in China

Baku. 25 August. REPORT.AZ/ Comfortable corridor for oil prices depend primarily on the level of the crisis in the Chinese economy, Report was told by director of Economic Research Center at the Institute of Globalization and Social Movements Vasily Koltashov.

"It's hard to predict the bottom of the price of oil. It depends on what decisions will China make and how the Chinese industry will fall. There are prerequisites to the fall in the real sector, there is a dip in the property market in China. Following this, the construction sector will collapse, which is 40% of the world steel and other raw material, "- V.Koltashov said.

According to him, huge bubble matures in Chinese economy, but so far Beijing has adequate reserves and resources:"The Chinese can hinder the development of the crisis, so we can expect lower prices in the corridor of 35-45 dollars per barrel.This would be a comfortable corridor, however it may be lower".

According V. Koltashov, the Chinese authorities themselves have caused the crisis in domestic economy.

"Rescuing China would now be a great folly, because China needs to save itself.Nobody forced it to inflate these bubbles and destabilize the world economy.They went on this way to keep the model that existed before.I predict social turmoil in China, and it will be very serious ", - the head of the center stressed.

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