Crude oil prices continue to fall.New pneumonia is expected to reduce demand in China at 20:10 on February 3.
The perception that the spread of new coronavirus infections has reduced demand in China, the world's largest oil importer, has continued to reduce international oil prices. Western media say major oil-producing countries, such as Saudi Arabia and Russia, are considering holding an early meeting to discuss the response.
There is widespread speculation that the impact of the spread of the new coronavirus will reduce demand in China, the world's largest importer of crude oil, and among international oil prices, the future price of North Sea crude oil in the London market is On the 3rd, one barrel dropped temporarily to the $ 55 range.
Crude oil prices had risen earlier last month due to the tensions in the Middle East, but in the London market it has fallen by more than 15% compared to two weeks ago when trading at the barrel of $ 65 per barrel. You.
According to market sources, there is a growing view that a decline in demand for crude oil is inevitable, with some reports that refinery utilization in China will be further reduced.
In response, the US and European media have set up early meetings to discuss additional cuts in production with Saudi-led OPEC and major oil-producing countries, including Russia, to support oil prices. That they are considering it.
The effects of the spread of the new coronavirus infection in China are beginning to spread to oil-producing countries that rely on crude oil for much of their national income.