18 Funniest Memes After Crude Oil Prices Fell Below $0 Per Barrel

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Amid of lockdown for COVID 19 outbreak, people started to compare the price of one-barrel oil against the daily essential goods on the social platform. This comparison brought meme fest where many are pointing out that a barrel of oil is now cheaper than everyday items like a roll of tissue paper.

The hashtags #OilPrices and #CrudeOil dominating the social platform as people started to compare the price of one-barrel oil against is actually cheaper than a Netflix subscription! The US oil marketers made a historical record when the price of West Texas Intermediate (WTI) which is the best quality of crude oil across the world went down to “minus” $40.32 a barrel in New York. This price is the lowest crude oil price ever. In fact, the previous lowest rate took place after World War II according to Bloomberg.



The countries around the world executing lockdown due to the pandemic causing drastic fall in the consumption of oil. The producers across the world continued to pump oil causing a fire-sale among traders who don’t have access to storage according to the Indian Express. At this point, the seller will pay the buyer of crude oil $40 for a barrel each that is bought.

People started to troll regarding the crude oil price falling below the $0 mark. Have a look-

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The price drop in crude oil will not possibly translate into a crash in prices at the gas pump according to a veteran analyst with Oil Price Information Services, Tom Kloze. Tom Cloze said, “I think it’s more inside baseball.” He also added in an interview with The Reuturs, “We’ll continue to see gasoline prices, diesel prices and jet fuel prices drift lower into May but one shouldn’t conclude that we’re going to see fuel given away or that we’re going to match these incredible, unprecedented drops we saw in crude oil today.”