IMPACT OF THE COVID-19 PANDEMIC ON THE ENERGY MARKET: AN ASSESSMENT OF THE EVIDENCE

Abstract

COVID-19, a unique virus, is the 21st century's unexpected crisis. It affects both individuals' daily lives and the world economy's sustainability. Correct economic appraisal of the crisis's impacts is critical for forecasting how businesses, sectors, and, more specifically, stock prices would behave in a future crisis time. That is why this paper will assess the effects of Covid-19 on one of the most vital sectors of the economy, the energy sector. The findings in the research indicate that the energy industry will experience both disadvantageous and beneficial economic repercussions. Furthermore, the share prices of energy companies that generate both traditional and renewable energy were compared in the early stages of the pandemic, during the lockdowns and softening period, using data collected and systematized from stock exchange markets (the New York Stock Exchange (NYSE) and NASDAQ) and databases that show actual stock prices (Bloomberg and Yahoo Finance).