Russia: Coronavirus Impact On Oil Is Worse Than Expected

Russia continues to refuse to announce its position regarding deeper cuts by the OPEC+ coalition, but admitted that the coronavirus outbreak could lead to additional downward revisions to the global oil demand growth outlook for 2020. The spread of the coronavirus outside China could lead to further downward revisions to global oil consumption, Russia’s Energy Minister told reporters in Moscow on Thursday. The outbreak has already reached Europe, and forecasts will definitely correlate to this, Novak told Russian news agency TASS, replying…