US oil prices plunged below $0 Monday to $-37.63 a barrel, causing panic across the globe, which has already been hit by the coronavirus pandemic. While newspapers and TV anchors are discussing the repercussions of the historic drop in oil prices, Twitterati in India refuse to give into the gloom, and have flooded the micro-blogging platform with hilarious memes on the matter.
While some are mocking that the cost of a barrel is now more than the cost of crude oil, others are poking fun at the Saudi Crown Prince:
I'm not surprised at all 👀😬#OilCrash#OilPrice#CrudeOil pic.twitter.com/NbDbIKT7kV
— 𝓓𝓪𝓪𝓵𝓲𝓪 ❤️ (@DaaliaKazaan) April 21, 2020
the prince laughed well, but before the Crash #OilPrices #oil #Petrol #Petroleo #oelpreis #petróleo pic.twitter.com/Alz70wCOHS
— iskender (@yurdanerISKI) April 20, 2020
Crude oil price right now : pic.twitter.com/eLwOmPHyH6
— ㅤ ㅤ ㅤ ㅤ ㅤ ㅤ ㅤ ㅤ ㅤ (@theesmaarkhan) April 20, 2020
Be it Netflix or its shows, the memes were hilarious and one even stated that a “Netflix subscription is more expensive than a barrel of oil".
Oil barrel is more expensive than oil inside it 😂 #OilPrice #OilCrash pic.twitter.com/kQFWsPvNPc
— Rizwan Baloch (@rizwanbaloch83) April 21, 2020
*Me and my boys planning to get crude oil and make some money*#OilCrash pic.twitter.com/VfEyAbwMMT
— swarnim kumar (@iamswarnim) April 21, 2020
In the wake of the outbreak of COVID-19, countries around the globe imposed lockdowns to prevent the spread of the contagious disease. This has also restricted the movement of passengers and goods, ultimately impacting the demand for oil. India has also extended its 21-day lockdown, imposed on 24 March, to 3 May keeping in view the increase of COVID-19 cases in the country.
The International Monetary Fund has predicted a contraction of 3 percent in the global economy and has termed it the worst decline since the Great Depression of the 1930s.
There are more than 2 million COVID-19 cases in the world, and India has 14,759 active cases. While the number of deaths worldwide has crossed 170,000, in India, 590 people have died due to COVID-19.
