Rystad Energy now predicts global oil demand will grow by 820,000 bbl/d in 2020, down from a December forecast of 1.1 million bbl/d.
U.S. Energy Secretary Dan Brouillette also said that while LNG prices are the lowest they've been in years, "the future is still bright for LNG."
Fresh off of a multibillion-dollar sale of its midstream interests, natural gas producer Indigo Natural Resources is flying high above the storm clouds.
NextDecade’s facility approved by the Department of Energy.
Budget documents said a sale from the Strategic Petroleum Reserve would help raise funds for priorities including $242 million needed to fix a Naval Petroleum Reserve site in California.
Oil prices have dropped more than 25% from a peak in January with U.S. crude back below $50 a barrel after the spreading virus hit demand in China, the world's largest oil importer.
Eight cargoes a year will be indexed to the Henry Hub price through 2030.
Saudi Arabia's stock market led most Gulf bourses lower on Feb. 9 after oil prices plunged more than 6% at the end of last week, while oil giant Aramco fell for a sixth consecutive day.
French oil major accuses a customer of trying to take advantage of coronavirus situation.
Russia Energy Minister Alexander Novak also noted U.S. oil output was not expanding as fast as before. "Oil production growth is slowing down there due to lower prices," he said.