Coronavirus may have created havoc in the stock markets across the world. It has impacted adversely the movement of people from one place to another, as a precautionary measure. However, one good thing that has happened is that these travel restrictions (both by air and by road) has led to a drastic fall in demand for crude oil across the globe. This is the single significant reason among others to oil prices in the world crashing more than 50 per cent in a period of less than two weeks time. The crude oil, which was quoted at around $55-60 per barrel is now trading at $25-27 per barrel. Coronavirus and its linkages with oil is a bigger crisis. However, the sharp fall in oil prices is going to prove a blessing in disguise to large oil importing countries like India, who imports 80 per cent or more of its annual oil requirements and its oil import bill runs in to billions of US dollars.