Energy

No need to panic about coronavirus impact on oil markets

0


The U.S. energy secretary does not believe the ultimate impact of China’s fast-spreading coronavirus is a cause for concern for markets.

His comments come shortly after both OPEC and the International Energy Agency (IEA) dramatically lowered their oil demand growth forecasts this year as a result of the deadly flu-like virus.

“I think we are going to pay close attention to what is happening with the virus itself. We are still analyzing, not only the actual virus to learn more about it, but also the response to it,” Dan Brouillette told CNBC’s Hadley Gamble in an exclusive interview on the sidelines of the Munich Security Conference on Friday.

“So, we are looking to see if the Chinese government will be able to contain or at least help contain the spread of the virus. At this moment, while we are seeing some slight reductions in production as a result of the virus, we are not yet concerned about its ultimate impact.”

International benchmark Brent crude traded at $56.40 Friday morning,…



Click here for the full story.
https://www.cnbc.com/2020/02/14/brouillette-no-need-to-panic-about-coronavirus-impact-on-oil-markets.html

Here are the top mistakes that almost every entrepreneur regrets

Previous article

GM, Hyundai and Kia escape US auto tariffs on South Korean-made cars

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Energy