The COVID-19 epidemic has spread all over the world, and many industries have been hit. So, what is the impact of this epidemic on oil prices? Let's have a look. The impact of the China epidemic on oil prices: The epidemic spread all over the world, which aggravated the situation of global oil market surplus and brought the extreme situation of pushing down oil prices. It is not ruled out that the future Brent oil futures price will continue to hover around $50/barrel. If the epidemic is not effectively reversed before the end of the first quarter, it is expected that the average price of Brent will hardly exceed $60/barrel in 2020. For a big oil and gas importing country like China, the lower oil and gas price means that the loose situation of global oil and gas supply and demand will continue, the energy security tension in China will be further eased, and the oil and gas import cost will be further reduced. Under the expectation that oil and gas prices will go down or even drop sharply, oil companies should prepare for the winter. It is also expected that the epidemic will end as soon as possible and the national economy and oil and gas consumption will recover their existing vitality.