Oil price approaches 35 USD a barrel

Baku. 6 January. REPORT.AZ/ "Brent" crude oil price moves down from 36 USD / barrel to 35 USD / barrel. Note that this price is the lowest level since July 2004. Report informs at that time, "Brent" price fell to 34.18 USD. It should be noted that the "Brent" crude oil in July 2008 sold at the maximum level - 147.5 USD / barrel. Currently, "Brent" sold by 112 USD, or 76% lower than maximum level. In the near term, oil price is expected to fall at23 USD / barrel.

WTI crude oil is currently sold at price close to "Brent" (35.5 USD / barrel).

"The decline in oil prices is due to negative economic indicators from China. International experts believe that, Chinese economy is likely to increase by 5-6% in 2016. This will cause the fall in oil prices of 20-25 USD/ barrel.