OIL PRICES MAY DWINDLE AS CORONAVIRUS SPREADS

, Magazine

With the spread of coronavirus, The organization of petroleum exporting countries (OPEC) and Non-OPEC”s joint technical committee (JTC) has scheduled over February 4-5 in Vienna, Austria to discuss on the effect of this disease on oil demand.

The officials of OPEC are considering various ways on how best to tackle the potential impact from the spread of coronavirus, which has killed over 300 people and caused a decrease in oil prices/

Ever since the outbreak of this deadly virus crude oil prices have suffered a huge hold on China”s economic growth/ China holds the second-biggest economy and a huge consumer of crude oil in the world.

Countries like USA, Russia and Saudi Arabia have been following the impact of this virus on oil demand.