Coronavirus epidemics have a significant impact on the global oil industry as the crude oil price has declined significantly in a short time, resulting in declining share prices of oil companies. A wide range of energy markets, such as renewables, coal, and gas, has been affected by the coronavirus crisis. However, its effect on the oil industry is severe as it is stopping people and goods from moving from one country to another, which leads to a reduction in the demand for transport fuels. The demand for oil has significantly affected the reduction in air travel. plastics due to its environmental effects and fluctuation in prices of raw materials can hinder the growth of the market.
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