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Oil industry sounds alarm on coronavirus dent in demand – Sydney Morning Herald
Persistent damage to the global economy from the coronavirus pandemic will hollow out demand for oil more than previously thought, major industry figures have warned.
Persistent damage to the global economy from the coronavirus pandemic will hollow out demand for oil more than previously thought, major industry figures said on Monday (UK time).
The Organisation of the Petroleum Exporting Countries (OPEC), energy giant BP and commodities trading giant Vitol all made grim forecasts as rising rates of COVID-19 infections sap hopes for quick recovery.
Oil prices in the physical market are weakening as the economic impact of the coronavirus on oil demand cascade…
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