Oil extended gains to an eighth day on optimism that China will be able to soften the demand hit from the coronavirus, even as Saudi Arabia signaled heightened concerns about the outbreak.
China’s banks cut benchmark borrowing costs for new corporate and household loans after Beijing slashed a range of policy rates this month in response to the epidemic that’s pushed refinery runs down by 25% this year. Saudi Energy Minister Prince Abdulaziz bin Salman compared the situation to a blaze that needs the fire brigade ahead of an OPEC+ meeting next month.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.
