Crude oil prices were heading Friday for around 20% weekly loss to post their largest weekly decline in 29 years due to coronavirus-related low demand coupled with the risk of growing oversupply.

Brent crude was trading at $34.43 per barrel at 1240 GMT on Friday for a 23.9% weekly decrease after the international benchmark ended last Friday at $45.27 a barrel.

American benchmark West Texas Intermediate (WTI) was at $33.64 a barrel at the same time for a 18.5% decline after last week’s trade ended at $41.28 per barrel.

The last time that oil losses were seen at such

Read more: Oil heading for 20% weekly loss, worst in 29 years