The coronavirus epidemic in China has had a marginal impact on energy markets and is unlikely to dramatically push up oil prices even if Chinese demand falls by 500,000 barrels per day, U.S. Energy Secretary Dan Brouillette told Reuters on Thursday. Brouillette cautioned, however, that there had been some “slowing” of Chinese energy purchases. Oil demand is set to fall by 435,000 bpd this quarter, in its first decrease since the financial crisis in 2009 due to the coronavirus outbreak in China, the International Energy Agency (IEA) said on Thursday. …read more
Source:: Yahoo Finance
