Opec and its allies face a stern test as ministers prepare to meet in Vienna on 5-6 March. The coronavirus is spreading beyond China’s borders, raising fears of a pandemic and triggering a sharp sell-of in oil. Crude has fallen by more than 20pc since awareness of the virus began to seep into the market on 20 January. Agreeing on a course of action to stem these price falls will be difcult. The Opec+ group has met the challenge of competing supply since its frst production deal took efect in 2017. It shows much less cohesion over dealing with a potential demand shock.
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