WSJ:Russia Central Banker: China Growth Affects Oil Prices More Than Euro Crisis
MOSCOW (Dow Jones)--A slowdown in China's economy would affect oil prices much more than the sovereign debt crisis in Europe, a central banker from Russia, the world's biggest energy producer, said Thursday.
"Automobile use and economic growth in China are a much greater factor in influencing energy processes than the processes in Europe," central bank deputy chairman Sergei Shvetsov said at a conference.
He added that the U.S. becoming a net exporter of gas may affect world prices for the commodity, but not as much as an economic slowdown in China. The U.S. has significantly increased natural gas production and may soon begin exporting the fuel because of major discoveries of shale gas.
-By Ira Iosebashvili, Dow Jones Newswires; +7 495 232-9192, ira.iosebashvili@dowjones.com
