“COVID-19 will have a severe impact on the oil & gas industry as global oil demand is expected to decline in 2020. The demand for crude oil is anticipated to drop for the first time since 2009 due to reduced industrial activity and transport. With public transportation curbed significantly to contain the outbreak, gasoline prices are also expected to continue the downward spiral. Enhanced oil recovery being a tertiary recovery method is expensive as compared to conventional technologies. Therefore, the collapse in oil prices is expected to negatively affect the growth of the market in the near future. “The global enhanced oil recovery (EOR) market size is expected to reach USD 88.54 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at an estimated CAGR of 6.8% from 2019 to 2025. Increasing number of aged wells coupled with the rising oil demand globally are the key factors for market growth.Asia Pacific is projected to exp…