Historical and political-economic background of the developed situation in the world oil market in the first quarter of 2020

At the beginning of May 2020, it is not completely clear how much the global economic crisis starting in 2020, which brought down oil prices, is connected precisely with the coronavirus epidemic, how deep the crisis will be and what long-term consequences it will lead to. In our opinion, the causes of what is happening are more fundamental, and the virus has become more a direct cause than a systemic cause of the economic crisis.