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China increased its oil imports from Russia by 15%

Китай увеличил импорт нефти из России на 15%

China increased its oil imports from Russia in January by 15% compared with the same month last year – up to 3,368 million tons, according to data from the General administration of customs of the PRC.

However, in comparison with December volume decreased by 30% (4,811 million tons), reports “Interfax”.

The April futures for Brent crude on Monday morning grew to 1,242 – to 33,49 USD per barrel.

On Saturday the Deputy Minister of Finance of Russia Maxim Oreshkin said that in the next two to three years, oil prices will not be much to grow, growth is possible only within narrow limits.

Earlier, the head of the Bank of Russia Elvira Nabiullina said that the Central Bank has enough tools for rapid response in case of a downturn in oil prices.

Meanwhile, Deputy Prime Minister Arkady Dvorkovich have called the possible short-term drop in the price of oil to 20 dollars per barrel, adding that a reasonable level of prices for raw materials is 60-70 dollars per barrel, but it is achievable only when a new cycle of the global economy.

On Friday first Deputy Minister of energy Alexey Teksler said that the Russian oil industry will be able to move forward at the price of black gold in 35-40 dollars per barrel.

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