YEREVAN. – The increasing supply of Iranian oil and the decline in its demand in China may drop the world oil prices, said Armenian economist Vilen Khachatryan, at a press conference on Tuesday.
“Right now, Iran is ready to introduce approximately 50 million barrels of oil to the market,” noted Khachatryan. “Naturally, this can cause a future drop in the [world oil] prices.”
In his view, on the other hand, the oil demand has declined in China.
“[And] this may lead to a drop in the price of oil, [and] which will reflect on the situation in Russia, and through it, also [on] Armenia,” stated the economist.