So many factories in China — including the ones that make iPhones and GM cars — have shut down due to the coronavirus outbreak that global demand for oil has tanked for the first time since the financial crisis of 2008. Demand for oil is expected to drop by 435,000 barrels a day in the first quarter of this year compared to a year ago, according to the International Energy Agency. And the full-year outlook is dim: The agency slashed expectations for demand in 2020 by 30% from where they were before the pandemic. “There’s little doubt that the virus will have a larger impact on the economy and oil demand than did SARS,” the IEA said in its report. The pandemic is so bad that it’ll mess with China’s overall economic growth. Economists are revising their predictions for how much the country’s gross domestic product will expand in […]