The coronavirus epidemic has already disrupted economic growth in China and a further spread to other countries could derail a “highly fragile” projected recovery in the global economy in 2020, the International Monetary Fund warned on Wednesday. In a note for G20 finance ministers and central bankers, the global lender […]

Price forecasts revised lower The outbreak of the coronavirus has had a significant impact on commodity markets, and oil has certainly felt the pressure, with the demand outlook looking weaker as a result. Given expectations for an even larger surplus over the first half of 2020 we have revised our […]

The production cuts continued by OPEC may not be enough to stabilise global markets and the oil cartel may have to look cutting crude output by another 0.85 million barrels to balance the market hit hard by the Coronavirus outbreak. According to a report by ICICI Securities, in the worst […]

  The oil market looks set for at least four months of depressed demand because of China’s coronavirus outbreak, with a large crude surplus not expected to clear at least until August, analysts and traders said. Fears of a virus-related slump in global energy demand have flipped the market into […]

    It’s members and it’s co conspirer Russia has reportedly called for an “emergency meeting“ trying to get ahead of the coronavirus that has created a drastic drop in global oil demand. Not only has demand fallen because of parked planes and trains but over concerns that the coronavirus […]

OPEC and its allies are considering cutting their oil output by a further 500,000 barrels per day (bpd) due to the impact on oil demand from the coronavirus, two OPEC sources and a third industry source familiar with discussions said. The Organization of the Petroleum Exporting Countries and allies including […]

Oil prices will remain supported near current levels this year as persistent geo-political risks and OPEC-led output curbs help offset growing supply from other producers, a Reuters poll showed. The survey of 50 economists and analysts, mainly conducted before the coronavirus outbreak, forecast benchmark Brent crude to average $63.48 per […]

The Council has adopted, by written procedure, the decision on the conclusion of the withdrawal agreement on behalf of the EU. This follows the European Parliament’s vote of consent on 29 January and the signature of the withdrawal agreement by the EU and the United Kingdom on 24 January. The […]

Oil prices fell more than 2% on Thursday to the lowest in three months on concerns over the potential economic impact of the coronavirus that continues to spread worldwide, while the market also considered the possibility of an early OPEC meeting. Brent crude LCOc1 was down $1.52, or 2.5%, to […]