Coronavirus worry weighed on crude on...........>

OIL: Coronavirus worry weighed on crude on Thursday, before the late equity

rally allowed the major benchmarks to reverse a chunk of yesterday's losses,

with WTI +$1.10 and Brent $0.90 better off at writing, building on the

post-settlement gains during Asia hours.

- Thursday saw BBG sources note that while Saudi is pushing to roll the next

OPEC+ meeting forward into Feb (from March) owing to the Coronavirus outbreak,

Russia is against such a move.

- Elsewhere, indications were given on Thursday re: Russia's crude output

ticking up in Jan (M/M).

- Also worth flagging a recently released Wood Mackenzie report, which has

suggested that Chinese crude demand may fall by over 250K bpd in Q1.

- Baker Hughes rig count data is due later today.