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Coronavirus and oil: Why crude has been struck hard

Byindianadmin

Feb 4, 2020
Coronavirus and oil: Why crude has been struck hard

An oil tanker loads off oil at the reception terminal in Qingdao in east China's Shandong province. Image copyright
Getty Images

Representatives of OPEC and its allies are expected to fulfill this week as calls grow for action to support oil costs.

That indicates the world’s greatest importer of unrefined oil, which typically consumes about 14 m barrels a day, needs a lot less oil to power machinery, fuel cars, and keep the lights on.

Bloomberg reported this week that China’s day-to-day c

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