Crude oil demand falls. But memes hit a high!
Memes hit a high
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!
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A happy reality?
Honey, here's the money!
Money Heist 2.0?
We. Cannot. Even.
Like whaaattttt?
Wooohooo!
Whatte fun!
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.