China's statistics cause new drop in oil prices

Oil prices on the world exchanges have dropped again.

As of 8:11, the price of a barrel of Brent crude dropped 1.51%, reaching $35.44. WTI oil prices dropped by 1.2%, to $33.23 per barrel.

The fall in oil prices is due to the publication of statistical data on the state of the Chinese economy. According to it, the official purchasing managers’ index (PMI) stood at 49.4 in January, compared with December’s 49.7 and below the 50-point mark, which indicates stagnation or a decrease in activity, RIA Novosti reports.