Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency (IEA).
Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency , as the new coronavirus and widespread shutdown of China's economy hits demand for crude.
A Chinese worker checks the valve of a gas pipe at a natural gas plant in Suining, in southwest China's Sichuan province.
The forecast downgrade comes as the coronavirus, which has infected over 59,000 worldwide and killed over 1,300 people, continues to weigh on global market sentiment andwith factories and businesses closing and travel restricted both to and from China and within the country.
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