IEA says virus outbreak to shrink first-quarter oil demand

LONDON (Reuters) - Oil demand is set to fall year on year in the first quarter for the first time since the depths of the financial crisis in 2009 hurt by the coronavirus outbreak in China, the International Energy Agency (IEA) said on Thursday."The consequences of Covid-19 for global oil demand will be significant. Demand is now expected to contract by 435,000 barrels per day (bpd) in Q1, the first quarterly decrease in more than a decade," the Paris-based IEA said in a monthly report, using..