Comments by Russian energy minister, Alexander Novak
- Coronavirus may drop global demand by 150k to 200k bpd
I think he's dropping some hints over the decision that Russia may make on the OPEC+ recommendation to cut output by an additional 600k bpd due to the virus impact.
Oil is dropping to session lows now, with WTI down 0.8% to $50.53, amid the more risk-off tone in the market as well during European morning trade.
