Saudi says coronavirus impact on oil demand limited


One for the history books:

Dateline 2020-01-27, FMT:

Top oil exporter Saudi Arabia said on Monday that the impact of a deadly coronavirus epidemic on oil demand was “extremely limited” but that the kingdom was closely following events.

Oil prices plunged on Monday, with Brent crude dropping below US$60 a barrel for the first time in almost three months amid fears over the economic effects of the epidemic, which has killed over 80 people in China.

But the outbreak’s impact “on the global demand for oil is extremely limited,” Energy Minister Prince Abdulaziz bin Salman said in a statement cited by the SPA state news agency.

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