The intentions to support economic development are mentioned more and more often by famous politicians. This time it was the State Council Prime Minister of the People’s Republic of China Van Tsyabao.
Yesterday on Monday the the Chinese Prime announced that it had become more important for the country to run supporting measures. For this purpose the authorities focus on stimulating the internal market, and on the country’s monetary policy correction.
This was confirmed by a quota approval in the amount of 26 billion US dollars for 138 foreign investors willing to purchase the Chinese government papers.
A positive news from the major oil consumer has pushed up the bullish trend in the black gold market.
In such a way, the cost of WTI crude oil advanced by 1% - to 92 dollars 90 cents per barrel.
Probably, the market would have increased further, but Saudi Arabia concerned about high oil prices, has expanded the extraction volume by 9 billion 923 thousand barrels a day.