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The energy sector tanked in Q1 2020. WTI and Brent crude oil posted significant losses in Q1 after the outbreak of Coronavirus weighed on demand. The failure of OPEC to respond to the price weakness led to a massive move to the downside in early March that took the price of crude oil to its lowest price since 2002. Oil product prices followed, with gasoline and heating oil moving lower in Q1. The prices of oil and products fell to multiyear lows in Q1 2016 and did the same in Q1 2020.