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The fall in demand for oil from China is another reason for the decline in prices per barrel
As reported by The National Interest, the role of slowing down the growth rate of the Chinese economy is underestimated when estimating the price per barrel of oil.
If the excessive supply is allocated as the standard reason, the decline in demand from the PRC side is usually ignored.
As China has entered the world's leading economies, it has become one of the largest oil importers, which has contributed to the rise in prices for the barrel in the last decade. So in 2013, China was the largest importer of oil.
However, the growth of the world's first economy is gradually slowing down. Some experts predict China this year one of the lowest growth rates in two decades. Which, of course, can not but affect the price of oil. "The oil market is unlikely to be able to find a country or even an entire continent that could make up for the drop in demand from China.", - the edition writes.