There are many analysts who expect price of the black gold worse than in 2019. If it happens, the price will have impact on the global economy. Problems with demand we can see on the OPEC’s policy by cutting the production. Last cut which have affect from January 1 reduces the production by 500 000 barrels per day.
Lowering the price will decrease the production which will have impact not on the energy sector, but also several parts of sectors connected to oil. Lowers the production will lower the workforce needed in sectors what will raise the unemployment. Higher unemployment starts the cycle of the spiral which slows the economic growth on the end.