LONDON - Oil fell to below $57 a barrel on Tuesday, pressured by concerns over the impact of the coronavirus outbreak in China on oil demand and a lack of any further action by OPEC and its allies to support the market.
Forecasters including the International Energy Agency have cut 2020 oil demand estimates because of the virus. Global experts say it is too early to judge if the outbreak is being contained, despite a fall in new cases in mainland China. “Oil prices remain heavy as energy traders may have been overly optimistic as to the crude demand impact of the coronavirus, and on fading optimism that OPEC+ will come through with deeper production cuts in March,” Edward Moya, senior market analyst at broker OANDA, said.
“This has spooked market players and triggered a sharp pullback in risk assets,” said Tamas Varga of oil broker PVM, referring to Apple’s statement.
More petroleum with less price NICE
1999 price per barrel . So gas should be 57c a litre , not 1.30 . Great Canadian rip off.
Dictator esed and Russia genocide syrian civilians and creating 4 milion refugies again, european cristian media does not tell the truth.
😂😂😂
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