Oil prices likely to 'stay down' for months: Analysts fear impact of fast-spreading coronavirus
In an attempt to soothe energy participants' fears, Abdulaziz said, according to a Reuters report, that markets are "primarily driven by psychological factors and extremely negative market expectations adopted by some market participants despite very limited impact on global oil demand."kingpin Saudi Arabia — were likely to be much more concerned than they were letting on, John Carey, former deputy CEO of ADNOC Distribution, replied: "I think there is a worry, no question.
"I think it is going to bounce around I think you are going to see spikes," Carey told CNBC's "Squawk Box Europe" on Monday.Saudi Arabia's Abdulaziz has insisted that OPEC, along with other allied non-OPEC producers, have the capability to steady the oil market if necessary. Tamas Varga, senior analyst at PVM Oil Associates, said Monday that the brokerage had initially expected prices to "bottom out" at around $60 a barrel. But, "the Chinese epidemic has gotten us wrong-footed further weakness is anticipated unless the epidemic is contained."
An oil tanker sits beside transfer pipes at a terminal as it prepares to unload its cargo of fuel on July 4, 2018 in Zhoushan, China.The World Health Organization has said that while the virus — which is spreading via human-to-human contact — is "an emergency in China," it has not yet become a global health emergency.that the coronavirus may ultimately have more impact on sentiment than be a lasting negative for the economy or markets.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Saudi energy minister says confident China can contain, eradicate new coronavirusSaudi Arabia’s Energy Minister Prince Abdulaziz bin Salman Al-Saud said on Monda...
Consulte Mais informação »
Jessie J 'energy cleansed' with spiritual guide before Channing Tatum reunionJessie J and Channing Tatum have been gushing over each other after getting back together and we can reveal the singer hired a spiritual consultant to help her get rid of bad vibes
Consulte Mais informação »
Rosalía's Grammy Performance Was A Big Jolt Of Flamenco EnergyLeave it to Rosalía to heat the GRAMMYs stage all the way up
Consulte Mais informação »
Oil prices skid 2%, extending slide as China virus spreadsOil prices slumped a further 2% to multi-month lows on Monday as the rising numb...
Consulte Mais informação »
Chile-and-Olive-Oil-Fried Egg With Avocado and SproutsTurn breakfast into dinner by piling crisp-edged eggs, feta, sprouts, and avocado on top of toasted flatbread.
Consulte Mais informação »
Olive Oil–Confit Chicken with Cipolline OnionsWhat happens when you cook with a lot of oil? Magic. Because oil conducts heat much more efficiently than air, foods that are confited in it, like these chicken thighs, come out incredibly moist and infused with the oil’s flavor.
Consulte Mais informação »