Photo: Geovien So/SOPA Images/LightRocket via Getty Images

The Energy Information Administration is trimming its 2020 oil demand forecast by 300,000 barrels per day, citing the effects of the novel coronavirus outbreak.

Why it matters: It's the latest sign of how the outbreak is changing oil market forecasts and creating headwinds for a sector already struggling with middling prices.

  • "EIA expects these oil consumption effects will be concentrated in China but some effects will show up in other countries as well," the agency said.
  • EIA's latest monthly analysis, out yesterday, now expects demand growth of 1 million barrels per day this year.

The intrigue: A range of estimates are emerging for how the outbreak could affect global oil consumption.

  • The consultancy Rystad Energy yesterday reduced their global demand growth forecast 25% to 820,000 barrels per day, but said it could fall as low as 650,000.

What's next: Tomorrow, the International Energy Agency will release its closely watched monthly market analysis.

Go deeper

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Sports return stalked by coronavirus

Tampa Bay Rays left fielder Austin Meadows bumps elbows Friday during a workout at Tropicana Field. Photo: Kim Klement/USA Today Sports via Reuters

When MLB teams arrived at the ballpark this weekend for the first summer workouts of 2020, the comforting sounds of baseball brought smiles to players' faces.

Between the lines: Even the loudest crack of the bat couldn't mask the eerie silence or distract from the ever-present coronavirus threat.

239 scientists call on WHO to recognize coronavirus as airborne

People walk at the boardwalk in Venice Beach. Photo: Apu Gomes/AFP via Getty Images

A group of 239 scientists in 32 countries is calling for the World Health Organization to revise its recommendations to account for airborne transmission as a significant factor in how the coronavirus spreads, the New York Times reports.

The big picture: The WHO has said the virus mainly spreads via large respiratory droplets that fall to the ground once they've been discharged in coughs and sneezes. But the scientists say evidence shows the virus can spread from smaller particles that linger in air indoors.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 11,294,859 — Total deaths: 531,419 — Total recoveries — 6,078,552Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 2,839,917 — Total deaths: 129,676 — Total recoveries: 894,325 — Total tested: 34,858,427Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona hot spot near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineKimberly Guilfoyle tests positive.
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.