Price oil touched new dip fifth day in row. The reason is coronavirus, because of whole year suffers and World health organization rings on the warning bell. Today the oil fell more than 2% and touched the lowest level since January 2019 after coronavirus relates to pandemic world. The signal that world is in real problem shows signs that coronavirus clearly have an impact on global economic growth and the International Monetary Fund is likely to downgrade its growth forecast as result, a spokesman for the International Monetary Fund said on Thursday.
“Clearly the virus is going to have an impact on growth,” IMF spokesman Gerry Rice told a regular briefing.
For the first time since the start of the coronavirus outbreak erupted in China, the number of new coronavirus infections outside the country exceeded new Chinese cases.
The spread of the virus to large economies including South Korea, Japan and Italy has raised concerns that growth in fuel demand will be limited. Consultants Facts Global Energy forecast oil demand would grow by 60,000 barrels per day in 2020, a level it called “practically zero”, due to the outbreak.