The coronavirus outbreak in China has hogged headlines for a month now, battering oil prices and sending OPEC into a frenzy to find a way to stop or at least slow down the decline while smaller U.S. producers struggle with pending debt repayments amid depressed prices. And it could get worse. Earlier this week optimism returned to stock markets and oil prices briefly rallied when suggestions began to emerge that the virus could have peaked. And then China changed its methodology of counting the new cases which meant the number shot up considerably, slowing the oil price rally. Stocks may have continued up, but oil has stubbornly remained low. China is the world’s second-largest consumer of oil after the United States. It is also the world’s largest importer of oil, accounting for a bit more than 20 percent of all global oil exports. No wonder oil prices react to […]