Media

Oil Price Update

Media

Oil Price Update

Crude oil prices fell on growing worries that the coronavirus epidemic that has spread from China to around 20 countries could put a damper on demand for oil


Crude oil prices fell on growing worries that the coronavirus epidemic that has spread from China to around 20 countries could put a damper on demand for oil
โดยทีมวิเคราะห์ตลาดต่างประเทศ บริษัท ปตท. จำกัด (มหาชน)
  • China’s National Health Commission said there have been an additional 57 deaths and 2,829 new confirmed cases, as of the end of Sunday. That brings the country’s total to 361 deaths and 17,205 confirmed cases, the government said. China's central bank plans to inject 1.2 trillion yuan ($173.8 billion) of liquidity into the markets via reverse repo operations on Monday where trading resumes following the long Lunar New Year break. Beijing also said it would help firms that produce vital goods resume work as soon as possible. 
  • The U.S. Energy Information Administration (EIA) said in a monthly report on Friday that crude oil production climbed by 203,000 bpd to a record high of 12.9 mil bpd in November.
  • The U.S. Treasury said on Friday that the U.S. had deleted from its sanctions list COSCO Shipping Tanker (Dalian) Co, but continues to blacklist the second unit - COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co Ltd. of COSCO, partially reversing its punishment on the company for transporting Iranian oil after China complained about the measure in trade talks with Washington.
  • Russia's energy minister Alexander Novak said on Friday that he was in discussion with OPEC leader Saudi Arabia in possibly bringing forward a meeting of OPEC and its allies to February from March to address a likely hit to global oil demand from coronavirus.