• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 18 hours Norway horrified as new rates make EV charging prices higher than petrol
  • 5 hours 60 mph electric mopeds
  • 4 hours US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China
  • 12 mins COVID 19 May Be Less Deadly Than Flu Study Finds
  • 3 hours China to Impose Dictatorship on Hong Kong
  • 6 hours Payback Time: Republican Senators turn the tables on Democrats. The difference is the Republican investigations are legit.
  • 3 hours Why 2030-Isn.t-The-Magic-Year-For-Electric-Vehicles
  • 4 hours Monetary and Fiscal Policies in Times of Large Debt:
  • 9 hours Iran's first oil tanker has arrived near Venezuela
  • 3 hours DEFIANCE – There are More of Us Than Them
  • 3 hours Let’s Try This....
  • 17 hours Ventura County to Replace Natural Gas Generation with Battery Storage
  • 19 hours Trumpe will win next election, hands down.
Oil Rally Stalls On Demand Concerns

Oil Rally Stalls On Demand Concerns

Oil prices came under pressure…

Why U.S. Shale Is Too Important To Fail

Why U.S. Shale Is Too Important To Fail

The U.S. shale sector is…

Editorial Dept

Editorial Dept

More Info

Premium Content

The Coronavirus Impact On Oil Demand

Market Movers

- Rystad Energy this week predicted that because of the coronavirus, global oil demand would grow by only 820,000 bpd this year, down from its earlier forecast of 1.1 million bpd. With respect to oil prices, while the coronavirus has shaved demand and brought down prices, this week has seen a rebound, but if conditions get worse speculators expect output cuts to offset demand issues.

- Overall global oil and gas deal volume shed nearly 18% in 2019, while overall global deal value was down nearly 11% for the year, thanks to stagnating commodity prices and poor returns (EY). Based on information from GlobalData, December 2019 saw $37.6 billion in oil and gas deals globally, over 200% more than in November 2019, but only ~7% more than the previous 12-month average. The number of deals, however, was down nearly 4% compared to the previous 12-month average.

- Qatar is working to either re-route or reschedule LNG shipments to China due to the coronavirus outbreak. This emerges after the previous week’s announcement by CNOOC, the largest Chinese importer, that it had declared force majeure on LNG deliveries with three suppliers due to the virus outbreak. On Thursday, four LNG tankers that were headed for North Asia were diverted over reduced Chinese demand.

- Total (TOTF.PA) is contemplating stopping fuel oil sales - a carbon-intensive petroleum product -for use in power generation, as the French energy giant jumps on the environmental…





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News