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 factors are influencing OPEC's response to the current market situation?

What uncertainties are present regarding the Chinese government's response to the coronavirus?