The impacts of the novel corona virus on the oil and electricity demand in Iran and China

Abstract

Despite significant medical advances in the past centuries, infectious diseases such as the flu or malaria are still a severe threat to society. While some do not have specific geographic areas, others can spread and become epidemic or pandemics. While the first and foremost aspect of an epidemic is the loss of human life and will always remain, the outbreak can also have significant consequences for national or regional economies. The evidence reported in various studies suggests that the epidemic is affecting the country's economy through various aspects, including health, transportation, agriculture, and tourism. At the same time, markets and economic trade with other countries may also be affected, while the convergence of modern economies means that an epidemic can also encompass international supply chains. All these facts state that Coronavirus, as the first major pandemic in the last century, is one of the most critical issues to be studied. These facts, as well as the fast urbanization, increased international travel, and changing conditions are causing a global outbreak, not just a local phenomenon, imply that measures are needed for all countries to tackle this threat. In this paper, the impacts of the Coronavirus on the economic status and Energy demand (mainly oil and electricity) are being studied to determine the vulnerability of the economic and energy security in the time of severing epidemics or pandemics