Oil price is falling on the background of weak statistics from China
Edited by Rhod Mackenzie / 2015-08-21 06:57:45
On Friday the oil price keep falling on the background of surplus of offer in the market and a weak statistics from China which escalated the worry concerning the state of economy of the largest world consumer of energy products.
This week might become the 8th week straight when the weekly oil price continually fall from 1986.
On Friday the concern regarding the offer surplus in the market escalated after the PMI index in the industrial sector of China in August fell to the minimal for 6.5 years level of 47.1 points – analysts forecast 47.7 points. Traders worry that the slowdown of the growth of economy of China will influence on oil demand in China.
