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
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
24 April 2026
The European Commission’s response to the Middle East crisis is to double down on its transition strategy, with plans for a new target on electrification
24 April 2026
A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks
