Middle East epidemic outbreak, Iran's crude oil did not suffer much, if the Middle East epidemic in not under control then the Middle East's crude oil supply and demand will be hit.
Since the outbreak of this epidemic, many countries have been seriously affected, especially in the Middle East, did not stop the virus attack. The worst outbreak in the Middle East is in Iran, where more than 40 people are now infected with the new virus, and ten have already died, with a mortality rate of 20%. Iran's president wants to set up a department to manage the outbreak, and the health department has said in recent days that schools in more than a dozen Iranian cities have been closed for two weeks to prevent the outbreak from spreading. Various sports and events have also been canceled, with a resumption date to be announced. Iran's medical equipment in the Middle East countries are considered very powerful, but due to economic tensions and U.S. sanctions, Iran is difficult to get masks and medical equipment and medicines, now a variety of drugs are in short supply, equipment is not perfect condition is very serious.
Iran now has no drugs to deal with the epidemic, and there are only ten doctors in a population of 10,000, doctors are in short supply. Because this is a very serious condition, Iran's crude oil has also been affected, but this effect is very small, so you do not need to worry. According to the latest information, due to U.S. sanctions, Iran's crude oil exports have been zero, due to Iran did not export crude oil, so the impact on Iran's crude oil is relatively small, negligible, if this is a line in the Middle East spread very quickly, it will be a very dangerous thing. Because the Middle East is the most central place in the world to provide crude oil, the Middle East occupies 50% of the global crude oil shares.
If the epidemic spreads very seriously, then the Middle East's oil market will be a very serious blow. So I suggest that we should pay more attention to the Middle East's oil market, and the control of the epidemic, if another period of time, the crude oil because of the epidemic and can not provide, then the price of oil will be in this period of crazy big rise.?
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