COLUMN-China coronavirus roils oil markets, but China may ultimately rescue crude: Russell - Reuters:
The spread across the world of the Chinese coronavirus has probably wiped out global crude oil demand growth for 2020, but in something of an irony it’s likely to be China that will be responsible if any increase is eked out.
There is little doubt that the coronavirus, which started in the city of Wuhan and has killed more than 2,700 people so far, will hit Chinese crude consumption this month, and likely into March and April.
But it also seems to be the case that Beijing may finally be getting a handle on containing the virus, just as it ramps up in other countries, most notably South Korea, Japan, Iran and Italy.
This makes it likely that Chinese refiners will be keen to resume operations that have been curtailed because of the virus, but this could be delayed until April.
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