Russia continues to refuse to announce its position regarding deeper cuts by the OPEC+ coalition, but admitted that the coronavirus outbreak could lead to additional downward revisions to the global oil demand growth outlook for 2020. The spread of the coronavirus outside China could lead to further downward revisions to global oil consumption, Russia‚Äôs Energy Minister told reporters in Moscow on Thursday. The outbreak has already reached Europe, and forecasts will definitely correlate to this, Novak told Russian news agency TASS, replying to a question whether Russia maintains its forecasts of the coronavirus impact on oil consumption. Novak earlier referred to analyst forecasts that the outbreak would reduce oil demand by 150,000 bpd-200,000 bpd in 2020, according to TASS. While Russia admitted that the hit to demand could be more than this estimate, Moscow continues to drag its feet and avoids a direct reply to a proposal for deeper […]