Could Oil Prices Fall Below $50?

One of my energy sector predictions for this year was that oil prices would not drop below $50 a barrel. This may turn out to be the fastest falsified prediction I have ever made. Since I made that prediction, China has experienced an outbreak of coronavirus, an illness similar to severe acute respiratory syndrome (SARS). So far, the virus has killed at least 41 people in China, and around 1,400 people have been infected. The country has taken dramatic measures to contain the spread of the virus. The Chinese government has quarantined millions…