COVID-19 Impact on Crude Oil Demand
Feb. 28, 2020
We have been talking extensively about the subdued global economic outlook going into 2020, supported by data from global organizations such as the IMF and OECD, which have been revising their predictions for growth downwards throughout 2019. Despite that, numbers for 2020 were generally more positive than 2019 until the emergence of COVID-19 or Coronavirus, that has already disrupted markets, with the near-term future remaining unknown.
Towards the end of last week, markets were showing positive signs after news that new infections were generally slowing down. However, information regarding a significant spread of the virus to South Korea and Italy ...