Virus Threat Seen Hurting Oil Demand

The video discusses the impact of the coronavirus on the global market, particularly focusing on the demand side. It draws parallels with the SARS epidemic, noting a potential drop in oil prices due to reduced travel, especially during the Chinese New Year. The discussion includes Goldman Sachs' prediction of a $3 drop in crude oil prices and a reduction of 260,000 barrels per day. The video also explores OPEC's potential response to these market changes, highlighting the uncertainty surrounding the situation and the factors OPEC must consider, such as the spread of the virus and governmental responses.

What historical event is used to predict the impact of coronavirus on oil demand?

• The 2008 Financial Crisis

• The Gulf War

• The 2010 Oil Spill

• The SARS epidemic

According to Goldman Sachs, what is the potential short-term drop in crude oil prices due to the coronavirus?

• $3

• $7

• $10

• $5

How many barrels of oil per day are expected to be removed from the market due to reduced travel?

• 260,000 barrels

• 1 million barrels

• 100,000 barrels

• 500,000 barrels

What is a significant factor that OPEC needs to consider before adjusting their supply?

• The stock market trends

• The weather conditions

• The spread of the virus

• The price of gold

What is the current stance of OPEC regarding the coronavirus situation?

• They have already reduced supply

• They are waiting for more information

• They have increased supply

• They have no plans to change supply