OPEC considers production cuts until June due to Coronavirus

The fast drop of oil prices during the past week due to coronavirus has caused a remarkable alarm among OPEC members who are evaluating the option to extend the cut of the production until June.

At the time being, OPEC is closely watching the evolution of the market together with the expansion of the virus, and the first signs do indicate that the epidemic will be less violent than the SARS exploded in 2003.

However, it will be necessary to wait some more weeks to have a better picture of the situation.