|13 February, 2020

Virus to knock oil demand growth by 300,000 bpd -Trafigura

CEO Weir said he expected a big pick-up in demand in the second half of the year.

Image used for illustrative purpose. Chinese labourers work at the Lunnan oilfield on October 11, 2006 in Lunnan county, Xinjiang Uygur Autonomous Region, China.

Image used for illustrative purpose. Chinese labourers work at the Lunnan oilfield on October 11, 2006 in Lunnan county, Xinjiang Uygur Autonomous Region, China.

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LONDON- Global commodity trader Trafigura Group expects the coronavirus outbreak in China to cut 2020 global oil demand growth by 300,000 barrels per day (bpd) to around 1 million bpd, CEO Jeremy Weir told Fox News.

Weir said he expected a big pick-up in demand in the second half of the year.

He also expects stimulus in China in the second half of the year to buoy industrial demand there.

(Reporting by Ahmad Ghaddar; editing by Jason Neely) ((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))

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