News published in China and US to shrink oil prices

Baku. 6 March. REPORT.AZ/ News coming from China and US expected to shrink oil prices up to 50 USD/barrel.

Report informs, reduction of economic growth forecast for 2017 by 6,5%- to the minimum of 7 years by Chinese government increased probabilities of decline in demand for oil.

Notably, China's economy showed 6.7% growth in 2016.

In addition, an increase in the number of active drilling wells in US to a maximum of 18 months in last 18 months allows us to say that oil production in country will rise slightly again. As a result, Brent crude oil prices began to decline.So the price of this brand fell by 0.36% last week to the 55.5 USD/barrel fell.

Analytical Group of Report informs, at the next meeting on March 14-15 the US Federal Reserve System (Fed) expected to rise interest rates: "On the eve of the session, oil prices will continue to face pressure. Before the meeting "Brent" crude oil price expected to decline to 50 USD/barrel and again continue to rise.