UPDATE 10-Oil falls to new 3-mth lows as virus fears grow, OPEC mulls meeting

* Brent and U.S. crude hit fresh 3-month lows
* Saudi Arabia opens talks on possible Feb OPEC+ meeting
* WHO declares China virus outbreak an international
emergency

(Updates prices to settlement, adds commentary, WHO statement
and impact on prices)
By Stephanie Kelly
NEW YORK, Jan 30 (Reuters) - Oil prices fell more than 2% on
Thursday to the lowest in three months on concerns over the
potential economic impact of the coronavirus that continues to
spread worldwide, while the market also considered the
possibility of an early OPEC meeting.
Brent crude LCOc1 was down $1.52, or 2.5%, to settle at
$58.29 a barrel. The global benchmark earlier dropped to $57.71,
its lowest since Oct. 8.
U.S. crude CLc1 fell $1.19, or 2.2%, to settle at $52.14 a
barrel, after hitting a session low at $51.66 a barrel, its
weakest since Oct. 10.
Prices have steadied in recent days at three-month lows as
investors tried to assess what economic damage the virus might
inflict and its impact on demand for crude oil and its products.
"The overriding bearish price influencer remains as the
coronavirus that appears to possess much additional risk of
spreading rather than any nearby suggestion of containment," Jim
Ritterbusch, president of Ritterbusch and Associates, said in a
note.
"Until this health trend is reversed, this month's sharp
downtrend in the oil is also unlikely to be reversed."
After the markets settled, the World Health Organization
declared that the coronavirus outbreak in China, which has
killed 170 people there, now constitutes a public health
emergency of international concern. Crude futures pared losses in post-settlement trade
following the WHO's announcement.
"Over the last week prices have dropped," said Gene
McGillian, director of market research at Tradition Energy in
Stamford, Connecticut. "At a certain point, you have a bit of an
exaggerated reaction and the market can correct."
The number of infections in a health crisis that is forecast
to sharply dent China's economy, the world's second-largest, has
already surpassed the total in the 2002-2003 Severe Acute
Respiratory Syndrome (SARS) epidemic.
The United States reported its first case of
person-to-person transmission of the coronavirus on Thursday,
with the U.S. Centers for Disease Control and Prevention
confirming six cases of the virus in the United States.
Saudi Arabia has opened a discussion about moving the
upcoming OPEC+ policy meeting to early February from March, four
OPEC+ sources said, after the recent slide in oil prices.
No final decision over the new date of the meeting has been
made, and not all OPEC members are on board yet, with Iran a
possible contender to oppose the move, the OPEC+ sources said.
"The only thing that can change the current trend is an
emergency OPEC meeting," said Olivier Jakob of consultancy
Petromatrix.

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CHART: Brent oil neutral in $59.43-$60.43 range Tracking the novel coronavirus https://tmsnrt.rs/3aIRuz7
GRAPHIC: U.S. petroleum inventories https://tmsnrt.rs/35Hre4S
CHART: U.S. oil may fall to $51.54 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>