Corona disease affected the GDP of some sectors, some of which rose and others decreased, and caused a significant negative impact on supply baskets and disrupted many industries around the world, including oil drilling, wells, airlines, as well as businesses such as real estate, and many people became unable to work The labor sector witnessed a significant decrease in its revenues
The second question: Referring to the data, the GDP of the oil sector is decreasing because the current conditions in the oil market are due to a number of factors that affect both supply and demand. On the demand side, containment measures and economic disruptions related to the COVID-19 outbreak have slowed production and mobility around the world, resulting in a significant drop in global oil demand. Depending on the situation, the goal of diversifying oil production may be difficult to achieve as the current drop in oil prices is limiting the ability of these countries to respond to the multidimensional domestic pressures brought about by COVID-19, at a time when money is increasing. Required to fund service delivery, mitigate health risks, and relieve macroeconomic stress
- Alshuaibi, A. (2017). Technology as an important role in the implementation of Saudi Arabia’s vision 2030. International journal of business, humanities and technology, 7(2), 52-62.
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