LONDON - Oil prices rose on Friday but were still set for a fourth consecutive weekly loss, as markets attempted to assess the economic damage of the new coronavirus that has spread from China to around 20 countries, killing more than 200 people.
“The move has stoked optimism that there may be light at the end of the virus tunnel. This is because the declaration should pave the way for a coordinated international response to control the global spread of the disease,” said Stephen Brennock of oil broker PVM. Oil prices were also buoyed by reports that Saudi Arabia has opened a discussion about moving an upcoming policy meeting to early February from March to address the impact of coronavirus on crude demand.
“As such, we are not sure what an emergency February OPEC meeting could effectively deliver other than the usual words of reassurance to the market that producers will act to balance the market.”
WHO needs restructuring. In depth Investigation is necessary. China is still busy w harassing it’s citizens at such times, ie forced redevelopment of old estates according to this twitter. Pls verify & report.
This industry is insane, what does oil have to do with a virus breaking out!! Get bent.
Trump and LamarsLegacy and MoscowMitch are all helping their oil friends.
The oil price rises because the houthi rocket attacked the saudi oil field again, not because of the wuhan virus. China is standing still now.
interesting that oil rises,,,
So damn stupid. We need a travel ban to help combat this.
WorldHealthOrg seems *conflicted* about profits vs public health. WHO
* WHO declears emergency as it promotes tourism to China There, fixed it for you Reuters