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Abstract

During last months, the spread of Coronavirus has greatly affected the demand for energy over the entire world; especially in China, which is the largest consumer of crude oil. Most of the factories have stopped their productions and thousands of flights around the world have been canceled. The virus started in the city of Wuhan in China and becomes now pandemic.


Our study focuses on the situation of the international market of oil in light of current circumstances, using a descriptive analytical approach. We come to the conclusion that this virus has really lowered the demand for brut oil, which has deteriorated oil prices. It is worth pointing out that the countries that export brut oil are the most affected by this crisis; especially the ones that their economy depends entirely on hydrocarbons. 


JEL Classification: F01, H87, L11.

Keywords

Novel Coronavirus Oil market Oil prices Oil Exporting Countries Oil Importing Countries

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