- Oil prices have fallen rapidly and fewer are driving and using less oil and gas. This means that the companies have no money available and postpone both planned projects and maintenance. Not only that, but we also see that projects approved by the authorities are postponed. This is the last thing companies want to postpone and has serious consequences.
The world may soon run out of space to store its extra oil as Saudi Arabia prepares to increase its fossil fuel production even as global demand for energy continues to fall.Covid-19 pandemic