Coronavirus: SA citizens in Wuhan warned against returning home

A group of South African citizens in Wuhan, China have been told to avoid “returning home” for now. Around 35 of our compatriots are stuck in the city, which was identified as the “epicentre” of the coronavirus outbreak. A total of 362 people have been killed by the illness, with over 17 000 cases confirmed globally.

Coronavirus latest – updates regarding South Africa

China’s Ambassador to South Africa Lin Songtian spoke about the latest situation with coronavirus on Monday morning. He kept things short and simple, confirming that South Africans stuck in Wuhan are being given free hotel accommodation in the city until it’s safe for them to come home.

“This is a very serious epidemic that is posing a threat to human kind. The coronavirus has not only stayed in China but has spread: 361 have died from the virus. This includes people from Hong Kong and Taiwan. But no cases has been confirmed in Africa.”

“The price we had to pay was to cut off transport to prevent to spread of the virus. It was not easy. More than a hundred hotels in Wuhan have opened their doors, free of charge, to host nurses and South Africans in that city. It is best for South Africans who are in Wuhan – to stay there and not return home for now.

Lin Songtian

#Coronavirus Songtian: There's no reason to support the repatriation of SA students from China.

— Jacaranda News (@JacaNews) February 3, 2020

Petrol prices may drop due to coronavirus fears

Of all the knock-on effects coronavirus has on the world economy, the impact it will have on the petrol price has been pretty understated so far. But in the weeks since the deadly disease was first reported, some oil producers have seen demand fall by almost 20%, and crude is very much on the ropes here.

OPEC members and their ally Russia will convene a technical meeting this week to analyse oil price falls since the outbreak of a coronavirus epidemic. The Organization of the Petroleum Exporting Countries will assemble experts in a “joint technical committee’ in Vienna on Tuesday and Wednesday, the source told AFP.

Crude prices have suffered since the virus outbreak in Wuhan, as worries about its impact on China’s economic growth have taken hold. China is the world’s second-biggest economy and a huge consumer of crude. US benchmark oil contract WTI has fallen by around 18% over the past month. If demand drops, so must the cost.

Wuhan: “Pessimistic views” harming oil industry

Top oil exporter and OPEC kingpin Saudi Arabia said this week that the impact of the coronavirusvirus on oil demand was “extremely limited” but that the kingdom was closely following events. A big part of the impact of global markets was “driven by psychological factors” and “pessimistic views”, Saudi said.

Russian energy minister Alexander Novak, seemed less sanguine, however, saying on Friday that the virus crisis could lead to lower demand for hydrocarbon fuels. The 13-member OPEC cartel regularly sits down with 10 non-members led by Russia to decide on measures to influence the oil price. OPEC and its allies in December extended an existing agreement to curb crude oil production to keep prices from plunging.