Crude oil demand falls. But memes hit a high!
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This comes in the wake of the coronavirus pandemic-induced lockdown restricting movement across the world, and causing the demand for oil dry up.
US oil prices fell to an all-time low on Monday -- more than 300 per cent to the lowest price on record.
This comes in the wake of the coronavirus pandemic-induced lockdown restricting movement across the world, and causing the demand for oil dry up.
This also comes in the wake of the superpower that social media is -- where every development of national or international importance is celebrated with a little humour.
So, memes hit a high on Twitter even as the demand for crude fell.
Hmmm! A sad reality!
2020 in summary. #CoronaVirusSA#OilCrash #OilPrices Sasol pic.twitter.com/C0rhftJq6v
— Ackloyd (@AW_Chuma) April 21, 2020
A happy reality?
So now my bottle is more expensive than the low class crude oil of Arabs. #OilCrash #OilPrices pic.twitter.com/kmd5Uflcpu
— Rocket Scientist (@Rockumon) April 21, 2020
Honey, here's the money!
#OilPrices #OilCrash
— Tweet_Bazz (@itweetbazz) April 21, 2020
News: Crude Oil Prices fall below 0..
New prices are -37.63$..
Me to petrol pump attendant after filling my car's petrol tank... pic.twitter.com/m5UJBhufxM
Money Heist 2.0?
*Me and my boys planning to get crude oil and make some money*#OilCrash pic.twitter.com/VfEyAbwMMT
— swarnim kumar (@iamswarnim) April 21, 2020
We. Cannot. Even.
#OilCrash #OilPrices
— Himanshu Dixit (@Himansh84873490) April 21, 2020
Cost of barrel and cost of crude oil pic.twitter.com/lT1i6vspxk
Like whaaattttt?
The barrel is now more expensive than the oil inside. #OilCrash pic.twitter.com/cg4tmCzZ8z
— Naresh (@naresh_jangid98) April 21, 2020
Wooohooo!
I'm not surprised at all 👀😬#OilCrash#OilPrice#CrudeOil pic.twitter.com/NbDbIKT7kV
— 𝓓𝓪𝓪𝓵𝓲𝓪 ❤️ (@DaaliaKazaan) April 21, 2020
Whatte fun!
Netflix subscription is more expensive than a barrel of oil#OilCrash pic.twitter.com/8bE5gqxBqz
— Becklish (@becklishoko) April 20, 2020
Meanwhile, all is not fun in the world. The price of oil has now reached a point that it is increasingly becoming difficult for higher cost producers to remain in operation and rather look at declaring bankruptcy.
A lot of US shale producers are in deep trouble and analysts expect that low oil price for few more months will result in a spate of bankruptcies in US.