OPEC Slashes Oil Demand Forecast on Coronavirus Impact

The video discusses the impact of the coronavirus on global oil demand, highlighting OPEC's reduced forecast due to decreased fuel use in China, the world's largest oil buyer. Helen Robertson provides insights into the report, explaining how the epidemic has significantly curbed China's oil consumption, affecting other crude suppliers like Saudi Arabia and creating downward pressure on oil prices globally.

What impact has the reduction in China's oil consumption had on crude suppliers?

What has been the effect on oil prices due to the changes in demand from China?