Saudi Arabia Equates Coronavirus’s Oil Impact to a House on Fire - Bloomberg:
Saudi Arabia gave the clearest signal yet of its concerns about the impact of the coronavirus on oil markets, comparing the situation to a blaze that needs the fire brigade.
In his first public comments on the virus since January, when he said the epidemic would have a “very limited impact” on oil demand, Saudi Energy Minister Prince Abdulaziz bin Salman described more urgent circumstances to an audience in Riyadh on Wednesday.
When asked about the impact of the coronavirus on oil, the prince equated it with a burning house, according to people who heard the comments, but asked not to be named because the event was closed to the press. You can either treat it with a garden hose and risk losing the building, or call the fire brigade, he said.
Some would say that calling the fire brigade projects panic and it could damage the furniture, the prince said. But doing so would simply be acting responsibly, and you would save the house, he said, according to the people.
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