Dollars and SenseNews
Oil and gas market feeling the effect of the coronavirus
Source: Al Jazeera News, February 19, 2020
As the death toll climbs, the coronavirus has not only crippled China’s economy but is having a ripple effect globally.
Formula One’s race in Shanghai has been postponed and this year’s Mobile World in Barcelona has been cancelled. Oil prices have tumbled 20 percent below their January peaks, raising the prospect that OPEC could cut production again.
But it is not only OPEC that is feeling the pinch. China has also turned away gas tankers, slashing gas prices in half.
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