The slowdown in China’s industrial activity and the shutdown of factories amid the coronavirus outbreak is causing the worst shock to oil demand in over a decade, Jeff Currie, global head of commodities research at Goldman Sachs, said in an interview on Bloomberg on Thursday. “The magnitude of the demand shock that we’re seeing is on par with 08-09,” Currie said, noting that one thing that distinguishes the coronavirus from SARS and other types of epidemics or pandemics is the magnitude of the quarantine across China. “We estimate demand in China is down anywhere from 2 to 3 million barrels per day, which is on par with 08/09,” Goldman’s Currie told Bloomberg. Goldman Sachs sees Brent Crude prices averaging $63 a barrel for the full year 2020, he added. Earlier this week, reports emerged that China’s oil demand amid the coronavirus outbreak is likely inflicting the worst oil demand […]