Opec+ talks failure highlights virus uncertainty
Uncertainties over the economic fallout of the coronavirus epidemic a harbinger of more short-term volatility
A freak pneumonia-causing coronavirus spreading out of China, Covid-19, has triggered record weekly declines in world markets and slashed global crude demand—but its impact is so difficult to gauge accurately that world powers are struggling to agree on the best policy tools to deal with the crisis. This appears to be the immediate takeaway from the meeting between Opec and Russia in Vienna on Friday, where producers failed to negotiate a new output cut in order to shore up declining oil prices. It is not just policymakers who do not see eye-to-eye with each other. Analysts also differ widely in their economic and energy projections. Investment bank Goldman Sachs, for example, sees Brent
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
