First to spread coronavirus, China may be first to restart oil refineries
The epidemic seems to be coming under control, allowing the country to eke out global oil demand growth
Launceston — The spread across the world of the Chinese coronavirus has probably wiped out global crude oil demand growth for 2020, but in something of an irony it is likely to be China that will be responsible if any increase is eked out.
There is little doubt that the coronavirus, which started in the city of Wuhan and has killed more than 2,700 people so far, will hit Chinese crude consumption this month, and likely into March and April. But it also seems to be the case that Beijing may finally be getting a handle on containing the virus, just as it ramps up in other countries, most notably South Korea, Japan, Iran and Italy...
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