Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman Al-Saud said on Monda...
Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman Al-Saud attends a session at the 50th World Economic Forum annual meeting in Davos, Switzerland, January 23, 2020. REUTERS/Denis Balibouse
Prince Abdulaziz said he was confident the Chinese government and international community could contain the spread of the virus and fully eradicate it. U.S. shares and crude prices had fallen sharply on Friday as investors moved into safe-haven assets amid concerns that the spreading virus from China would curb travel and hurt economic demand.
“Such extreme pessimism occurred back in 2003 during the SARS outbreak though it did not cause a significant reduction in oil demand,” Prince Abdulaziz said.
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