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Oil in 2020 Al-Sharq Al-Awsat, London, December 29 The year 2020 was a unique year both economically and socially. More than 1.5 million people around the world died due to COVID-19. In the past year, the world went through repeated closures, lockdowns and quarantines without a clear sense of when the pandemic will be over. Many industries crashed. Others barely survived. Demand for oil fell to a record low of 9.8 million barrels per day, forcing OPEC countries to reduce production by 7.7 million barrels. During the beginning of the pandemic, oil prices fell to minimal levels of about $30 a barrel, compared to $70-$80 before the pandemic.  With the widespread rollout of COVID-19 vaccinations and the gradual return to international travel, the average price of oil is expected to slightly rise to about $45 a barrel in 2021, compared to an average of $41 in 2020. The oil-producing countries faced two important challenges during the year 2020. The first is the decline in both demand

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