LONDON (ICIS)--The coronavirus outbreak rattled oil markets, sending ripples into energy and petrochemicals. The price crash on 30 March dragged oil futures to an 18-year low, slipping below 2014’s much-dreaded levels.
Futures bowed to this unprecedented combination of a virus-eroded global oil demand and a producers’ war set to fuel supply. As countries roll out economic relief packages, the world fears another recession as the US is braced to be next in line for the epicentre of the pandemic.
How has China been coping so far? What is the outlook for oil during this global health crisis and how will the energy and petrochemical chains react?
Watch this new video from ICIS for the latest information on coronavirus: the global domino.