2020-02-26 09:55:00
CORONAVIRUS BRIEFLY: ARAMCO
MEOG - The global impact of coronavirus will only be "short term", according to the CEO of Saudi Aramco.
Amin Nasser is confident that demand will improve in H2 2020, particularly in China, he told Reuters newswire on Monday.
"We think this is short term and I am confident that in the second half of the year there is going to be an improvement on the demand side, especially from China," Nasser said.
"I do not think it is going to have a long-term impact."
Nasser said that Aramco, the world's biggest oil-producing company, has not evacuated its staff from China.
Saudi Arabia has held talks with other OPEC members and Russia to discuss potential deeper oil supply cuts to counter the impact on crude prices.
But Russia has yet to announce its final position on the proposal.
OPEC and allies are due to meet over March 5-6 to decide on production policy.
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Earlier:
2020, February, 21, 12:35:00
OIL PRICE: ABOVE $58 YET
Brent was down 64 cents, or 1.1%, at $58.67 a barrel, WTI dropped 54 cents, or 1%, at $53.34 a barrel.
2020, February, 21, 12:30:00
OIL MARKET: NOTHING URGENT
Despite the partial recovery, oil prices are still far below the level many OPEC members need for their budgets to balance.
2020, February, 19, 11:55:00
GLOBAL OIL DEMAND 2020: 100.73 MBD
Oil demand growth in 2020 is revised down by 0.23 mb/d from the previous month’s assessment. With this, global oil demand is now forecast to grow by 0.99 mb/d and average 100.73 mb/d for 2020,
2020, February, 19, 11:50:00
GLOBAL PETROLEUM DEMAND WILL UP BY 1.0 MBD
EIA now expects global petroleum and liquid fuels demand will rise by 1.0 million b/d in 2020, which is lower than the forecast increase in the January STEO of 1.3 million b/d in 2020, and by 1.5 million b/d in 2021.
2020, February, 14, 12:10:00
CHINA'S CORONAVIRUS: NO AFFECT
The coronavirus epidemic in China has had a marginal impact on energy markets and is unlikely to dramatically affect oil prices even if Chinese demand falls by 500,000 barrels per day, U.S. Energy Secretary Dan Brouillette told
2020, February, 12, 12:12:00
OIL PRICES 2020-21: $61-68
EIA forecasts Brent prices will average $61/b in 2020; with prices averaging $58/b during the first half of the year and $64/b during the second half of the year. EIA forecasts the average Brent prices will rise to an average of $68/b in 2021.
