The oil market is “troubled by both rising demand worries and rising fuel stocks,” said Ole Sloth Hansen, head of commodities strategy at Saxo Bank A/S in Copenhagen. “It’s going to take a firm commitment by OPEC+, or rising geopolitical tensions, to achieve a sustained recovery.” (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) Oil posted its largest monthly loss since May 2019, as fears of the coronavirus continue to rise. The 15 percent price decline is also the worst January performance since 1991, according to Bloomberg. Bernstein: Chinese oil demand growth at just 100,000 bpd . China’s oil demand could grow at just 100,000 bpd this year due to the coronavirus, according to Bernstein. That would make it the slowest expansion in consumption in nearly 20 years. The firm previously predicted 350,000 bpd of growth. […]