Oil markets have been thrown into turmoil by a slowdown in demand caused by coronavirus and a stand off between Moscow and Riyadh.
Stock markets the world over were roiled this week by the twin blows of coronavirus and turmoil in the oil world. As the economic impact of the pandemic bit, a dispute between Saudi Arabia and Russia drove down the price of oil.
, where Russia's Rosneft oil corporation is helping finance state oil producer PDVSA and prop up President Nicolas Maduro. "Most likely the first opportunity for any resolution is June," Bell said."Things could happen sooner, depending on how bad the oil market gets." China is showing encouraging signs of containing the virus spread, but oil demand will depend on how quickly other nations recover. If demand remains low in June, Russia and Saudi Arabia might be more inclined to reach a deal.
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