Russian experts if oil prices will resume the original oil production level in China lightscape

Russian expert: if oil prices rise China will restore the original production level of U.S. stock market center: exclusive national industry sector stocks, premarket after hours, ETF, real-time quotes warrant satellite news in Moscow in August 30, the Russian satellite network reported that the Russian National Energy Security Fund chief analyst Igor Yushko J in an interview? "" satellite news agency interview said that if world oil prices rose to above $60 a barrel, China will restore the original domestic oil production. The Wall Street Journal reported earlier that in the first half of 2016, China’s three largest oil production fell by 7-9%. The newspaper interviewed experts believe that in the context of depletion of reserves, China will continue to reduce oil extraction. Russian experts believe that the reduction in oil production does not mean that China’s domestic production system, there are huge problems. This is a temporary phenomenon associated with current oil prices. Experts believe that: China has always been difficult to produce oil from the low yield oil. Nearly a year to a year and a half, China’s oil production investment trends. When oil prices are not high, increasing imports is more favorable for china. If oil prices exceed $60 a barrel, then China will recover its original oil production." He also pointed out that the news about China’s production may lead to a temporary rise in raw material prices. Experts said: "traders first pay attention to the consumption level of China and the United states. News about China’s production cuts could lead to higher prices for China’s oil imports. Oil prices have now exceeded $50 mark." He also stressed that Russia and Saudi Arabia is still the main exporter of oil to china. China’s oil demand grew by 4.8% in 2015, while imports rose by about 9%. According to OPEC forecasts, in 2016 China’s oil consumption increment will be 280 thousand barrels per day and night. However, consumption growth in 2016 was significantly lower than in 2015. At the same time, according to OPEC data, in 2016 China’s oil production will be reduced by about 200 thousand barrels per day. Oil production will decline for the first time since 1999. Editor: Guo Mingyu SF008相关的主题文章: