Natixis’ Joel Hancock speaks to Petroleum Economist on the impact of coronavirus on oil markets
March 11, 2020
Speaking to Petroleum Economist, Joel Hancock – Lead Energy Analyst at Natixis CIB – discusses the impact of coronavirus on oil demand and price, and what it means for OPEC and its main OPEC+ partner Russia.
In the near term, for the second quarter “OPEC+ will have to announce a cut just to support the market and try to put a floor under prices at maybe $50/bl, because, at that point, we are looking at relatively severe budgetary pain for the Middle Eastern and north African oil exporters”, explains Hancock.
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