Oil demand is set to contract in 2020 as the coronavirus outbreak widened to 72 countries outside China as of Wednesday, threatening to put more pressure on the global economy and fuel demand, according to two revised outlooks this week. This is notable because oil demand has consistently increased every year for several decades, with a few exceptions like the early 1990s recession and the financial crisis of 2008-2009. “Over the last week, the situation has worsened with outbreaks now in a number of additional countries,” Goldman Sachs energy research chief Damien Courvalin said in a report Tuesday. Goldman Sachs cut its oil demand outlook to a 150,000 […]