RIYADH: Top oil exporter Saudi Arabia said on Monday (Jan 27) that the impact of a deadly coronavirus epidemic on oil demand was 'extremely limited' but that the kingdom was closely following events.
The outbreak's impact"on the global demand for oil is extremely limited, said Saudi Energy Minister Prince Abdulaziz bin Salman to reporters on Monday . - Reuters
Oil prices plunged on Monday, with Brent crude dropping below US$60 a barrel for the first time in almost three months amid fears over the economic effects of the epidemic, which has killed over 80 people in China. "A big part of the impact on global markets including the petroleum markets... is driven by psychological factors" and"pessimistic views" among dealers, he added.
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