“It is important that we do not exaggerate projections related to future decreases in oil demand due to events in China…OPEC and OPEC+ member countries will discuss market conditions (in March) and, if required, all options to ensure continued market balance.”
–UAE Minister of Energy Suhail al-Mazrouei, in comments echoing Saudi Arabia and other OPEC members that urge caution against “gloomy expectations” regarding the possible impact of the spread of the coronavirus on the global economy and oil demand. [nytimes.com]
