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b'Markets are looking for drama and Coronavirus provides it.

Oil up as hopes of OPEC cut, stimulus counter virus gloom
https://www.reuters.com/article/us-global-oil-idUSKBN20P03B
- there is a real economic demand impact here - 70 airlines changed flights to China

Putin says Russia can handle oil slide but hints at OPEC cooperation
https://www.reuters.com/article/us-china-health-russia-oil/russias-putin-says-current-oil-prices-acceptable-idUSKBN20O1HD
- Russian position is that they don\\u2019t need to cut
- Putin is playing it cool, would like extra money but not necessarily

OPEC will \'go beyond\' what the market has currently priced in, strategist says
https://www.cnbc.com/2020/03/02/opec-will-go-beyond-what-the-market-has-currently-priced-in-strategist-says.html
- OPEC could deliver a 1.2 million bpd cut
- That\\u2019s basically writing off Libyan production
- posturing that doesn\\u2019t make sense - especially when its based off of a \\u201csource in the know.\\u201d

Oil Looks Into Abyss as Coronavirus Threatens Demand Contraction
https://finance.yahoo.com/news/oil-looks-abyss-coronavirus-threatens-200136635.html

Oil Is Still Plunging as Demand Falls. One Big Buyer Is Out There.
https://www.barrons.com/articles/oil-crude-coronavirus-china-demand-51582914201
- RBC claims that preliminary satellite data shows China is increasing oil in storage. But there are other explanations for this! Don\\u2019t assume they are buying more, could be regular purchases going into storage.

One of the World\\u2019s Largest Energy Summits Canceled on Virus
https://www.bloomberg.com/news/articles/2020-03-01/giant-houston-energy-conference-canceled-on-coronavirus-concerns

Come see Ellen at the Cato Institute on March 4 or watch the live stream here: https://www.cato.org/events/the-iran-crisis-and-american-energy-security

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit energyweek.substack.com'