The impact of 2019-nCoV on oil demand

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The ongoing coronavirus outbreak and subsequent large-scale quarantine measures are posing a major economic risk to China and beyond. As China’s economy is already under pressure from a lingering trade conflict with the US, this is adding to downward pressure to its oil demand. The preventive measures taken by the Chinese government focus mainly on aviation and public passenger transport although other sources of oil demand will be affected. In this Insight, we present our viewpoints to assess the impact of the ongoing coronavirus outbreak on oil demand. Which sectors are targeted by preventive actions taken by the government? What occurred to oil demand during the 2003 SARS outbreak? Which products demand are most affected? How substantially would demand be affected in China and globally?

Table of contents

  • Epidemic spreading
  • Preventive measures focusing on aviation and public passenger transport
  • The SARS outbreak in 2003 and its impact on oil demand
  • The coronavirus outbreak and its impact on oil demand

Tables and charts

This report includes 4 images and tables including:

  • Cumulative number of reported SARS cases week by from mid-March to mid-July 2003
  • YoY in China's apparent demand: 2003-2004
  • YoY change in China's demand: 2001-2005
  • China oil demand YoY change

What's included

This report contains:

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    The impact of 2019-nCoV on oil demand

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