Financial Economics

Black Gold, Blood of an economy, etc. These are a few phrases given to the oil. Oil is one of the most fundamental parts of any economy. It has driven economies for ages and been at the heart of every economic activity in the world. Countries have fought many wars to influence the oil industry. Oil has helped some small and weak states to develop into one of the world’s wealthiest nations. Oil also has created a crisis in the world’s biggest economy and compelled it to revise its foreign policies. This industry has created the world’s biggest company and one of the biggest empires. In the past decade, oil has given immense power to nations to manipulate things as they will. If a state possesses an oil reservoir, it has thrived and archived the unthinkable growth in a few decades, but possessing an oil reserve doesn’t mean a nation will prosper. Many nations have fallen after having a mammoth amount of oil reservoirs. The nations have to use these reserves statistically. To

The novel Corona Virus is also known as the COVID-19 is the newest member of the Corona Virus family. This virus has been first discovered in Wuhan, China. This COVID-19 now has spared worldwide and impacted around 787,000 and 38,540 casualties have been reported (Till the date). This virus has been reached on every continent of the globe. Europe has now become a new battleground. People are dying daily and WHO has declared coronavirus as Pandemic. As the world is trying to revive from this virus, the world economy is starting to feel the impact of the coronavirus. The developed economies along with the developing economies all are facing recession. As per experts, the worst is yet to come. Many people are comparing this recession with the recession of 2008. As per the ILO (International Labour Organisation) almost 25 million people are likely to lose their jobs due to the crisis. So how a virus lead the world economy into crisis and cause an axe on 25 Million people job? In th