One of the biggest and most important events in the energy industry was canceled by organizer IHS Markit on Sunday amid growing fears of a coronavirus epidemic.

The event was scheduled to begin March 9 in Houston, Dallas.

CERAWeek has been an important industry forum for over three decades for the biggest names in the energy industry. This year, the event promised to attract thousands of delegates from around the world. The leaders of Saudi Aramco, BP Plc and Total SA were among the participants to speak during the five-day program of the event.

“There is growing concern about major conferences with people from different parts of the world”, said IHS Markit on Sunday, adding: “Delegates from more than 80 countries were expected to participate in CERAWeek 2020”.

The conference was to start days after a crucial OPEC+ meeting in Vienna, scheduled for March 5 and 6, to address the market impact of the coronavirus. Brent crude prices plummeted last week amid forecasts that China’s economic meltdown caused by the outbreak would wipe out much of the demand growth this year.

The energy industry is also under pressure for natural gas, where prices continue to fall amid concerns about climate change and the transition to clean energy. These topics were to be discussed in CERAWeek’s sessions and panel discussions.

“I’m sorry about that, but it’s the right thing to do”, said Jason Bordoff, founder of the Center for Global Energy Policy at Columbia University.

Last week, the International Petroleum Week (IPWeek) forum was held in London, but oil producers, including BP and Saudi Aramco, trading houses and brokers, canceled many of the events scheduled to take place on the sidelines of the conference. Other companies, including the Spanish Repsol SA, did not send their representatives. IPWeek is Europe’s largest oil conference, typically attracting around 3,000 people, including industry representatives from Europe, the Middle East, and Africa.

The cancellation of CERAWeek is largely due to an increase in confirmed cases of Covid-19 in the United States and around the world. On Saturday, the United States confirmed the first death and the state of Washington declared a state of emergency because of the epidemic. Two major events were canceled in Switzerland last week – the Geneva International Motor Show and the Geneva International Motor Show and the Baselworld Watch and Jewelry Exhibition.