Saudi Arabia reduces crude supplies amid coronavirus outbreak

Amid unprecedented coronavirus outbreak, world's largest top oil exporter Saudi Arabia has reportedly reduced crude supplies to some Asian buyers in March. According to international media reports, drop in supplies also comes after state oil giant Saudi Aramco cut March official selling prices (OSPs) more than expected. Buyers overall minations for March-loing cargoes were also lower, however, dely virus has t h a big impact, although seasonal maintenance in Asia in second quarter h me more difference. 

According to reports, authorities have also declined to say how much lower volumes were at ir refineries, but y also said that Saudi Aramco may have allowed some Chinese buyers to reduce ir volumes by more than ten per cent as ir situation was an exceptional case. Several China's refiners including Sipec Corp, PetroChina, China National Offshore Oil Company have also cut ir crude processing rate in February. 

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outbreak which took place in Wuhan in January has w killed hundreds of people. death toll for virus in China has also reportedly jumped to nearly 1,100 with ar 1,638 new confirmed cases. total number of confirmed cases across China are w more than 44,200. Hubei province, which is epicentre of viral outbreak, has also reported 94 new deaths. 

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'Public enemy number 1'

World Health Organisation has reportedly said that China's Coronavirus outbreak is a 'very grave threat for rest of world' and should also be viewed by or nations as 'public enemy number 1'. virus officially also named 'COVID-19' at conference in Geneva held by WHO, where body's chief furr said that countries h a chance of stopping its global spre. Earlier this month, WHO also declared Coronavirus as a 'global public health emergency'. 

WHO chief on Tuesday said that first vaccine aimed at combating China's dely new Coronavirus could be available in 18 months. WHO chief also ded that until a vaccine is developed countries around world must combat virus with everything that is available to m today.

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