Coronavirus economic hit has seen demand for oil in China drop 20%

A Bloomberg piece on the extent of the oil demand shock, citing " people with inside knowledge of the country's energy industry".

• Chinese oil demand has dropped by about three million barrels a day
• or 20% of total consumption
• probably the largest demand shock the oil market has suffered since the global financial crisis … and the most sudden since the Sept. 11 attacks

Late Friday Adam posted on some other factors hitting the oil price:

• The OPEC-bounce in oil was sold hard

Stick this all together and you'd have to wonder about the next OPEC+ move.

Emergency meeting? Cut harder?