Even if OPEC cuts production by 600,000 barrels a day, oil prices could remain weak until April, according to a senior analyst at S&P Global Platts.
That’s because inventories are rising amid lower oil demand due to the coronavirus outbreak, Kang Wu, Asia’s head of analytics, told CNBC’s “Capital Connection” on Thursday.
Oil prices have been under pressure because of the virus that shuttered Chinese businesses for weeks and forced flight cancellations around the world.
