Japan’s Inpex Corporation is reviewing its investment plans and looking into other cost-reducing measures due to the current market situation and the impact of the coronavirus and the oil price decline on its business operations.

In a notice concerning the impact of the oil price decline and the coronavirus pandemic, Inpex said on Wednesday that the prices of oil and natural gas are determined in large part by international market trends, which are influenced by numerous factors including international and regional supply and demand fluctuations as well as the condition of the global economy and financial markets.