Crude oil prices fell on worries about crude demand being reduced by the economic impact of the coronavirus outbreak.
โดยทีมวิเคราะห์ตลาดต่างประเทศ บริษัท ปตท. จำกัด (มหาชน)
- Chinese President Xi Jinping described the outbreak as the "largest public health emergency" since the founding of communist China as the death toll on the mainland reached 2,442, with 76,936 infections reported as of Sunday. Outside of China, South Korea’s government raised the COVID-19 alert to its highest level after a recent implosion of confirmed infection cases, which took the country’s tally from 31 as of Feb. 18 to 602 on Sunday. In the Middle East, Iran has reported eight deaths and 43 infections from the virus, prompting neighbouring countries Turkey, Pakistan, Armenia and Afghanistan to close their borders with Iran.
- Garbis Iradian, chief economist for the Middle East and North Africa (MENA) at the finance industry body said the whole year, it could be $58 or $57 depending on developments of coronavirus. Iradian said the virus outbreak could depress China's growth by 0.5 to 0.7 percentage points. "If the growth rate (for China) is 5% then it has major implications for oil. The Chinese demand for oil could drop by around 400,000 barrels a day, and other Asian countries could lower their demand. Overall the increase in global demand for oil, instead of being 900,000 barrels per day … could be 300,000 to 400,000,” he said. This may impact economic growth in the Middle East, though a direct impact on regional economies, particularly for oil exporters, has so far been contained, he said.