China reported an outbreak of a SARS-like viral infection on December 31, 2019. The disease, officially named COVID-19, was first detected in Wuhan City, Hubei Province, China and continues to spread globally. Initial symptoms are similar to the common cold, but in severe cases it can cause pneumonia and even organ failure. The Chinese government has taken a number of steps to try to contain the virus, including extending the annual Lunar New Year holiday, restricting travel, and suspending some business activities. All of these measures will have some effect on the country’s energy consumption. Given the growing concerns over COVID-19 and its impact on oil demand, KOMO has been updated and KAPSARC is examining a range of possible outcomes.
18th February 2020