The effect of the COVID-19 virus on global demand for oil and gas, along with an ongoing price war that has sent oil prices tumbling at an unprecedented rate, are poised to wreak havoc on new project development plans for this year

The unpredictable Coronavirus and the proceedings of Saudi Arabia, which dramatically decreased global oil prices are the triggers of the sales fluctuations in the stock market

French energy group Total has announced the suspension of the buyback programme

The largest oil supply surplus the world has ever seen in a single quarter is about to hit the global market from April, creating an imbalance of around 10mn bpd

The recent coronavirus (COVID-19) outbreak is adding further woes for the oil and gas industry, which is already plagued by oversupply and declining prices