OPEC+ Huddles with Beijing as Coronavirus Spreads

Asia Times

05 February 2020

OPEC+ rolled out the red carpet for China’s senior Vienna-based diplomat on Tuesday. Iran and Saudi Arabia, normally rivals, are expected to make common cause on oil-production cuts, as both look to suffer from a protracted slump in Chinese demand. “The Chinese are going to be obviously importing somewhat less oil in the short term,” said James Dorsey, senior fellow at RSIS and Middle East Centre. “It’s too early to say what the long term is, but lower growth means lower consumption. “

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Last updated on 06/02/2020