April 20th the crash of American oil fell to it’s lowest in history; to less than $0 per barrel. This means oil prices are now in the negative. The oil price crash has raised alarm around the world.
According to BBC, the demand for crude oil has reduced drastically across the world due to coronavirus lockdown which resulted in oil firms renting tankers to store the surplus supply.
While the Brent oil still sells for $26 per barrel, it hasn’t stopped Nigerians from reacting hilariously to the doomsday playing out in the oil sector.
Check some of reactions to the oil price crash below
— Sheikh Umar (Ashh) (@shkumr786) April 20, 2020
— The Bird (@WordWithBird) April 20, 2020
— Abd El_Whab Abdelgawad (@ehabashraf47) April 20, 2020
For those that didn’t understand the stuff, 1 barrel of oil is equivalent to 158.987 litres. Now 1 barrel is just $0.5. Which is equivalent to #195. Meaning 159litres of oil cost N195 only in the global market presently. And oil is our major export. #OilCrash #OilPrice #CrudeOil pic.twitter.com/fT4x0OldUG
— SMOG (@oladelesemiu) April 20, 2020
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— Your favourite protein (@Za_Nectar) April 20, 2020
So 1 cup of garri costs more than a barrel of crude oil?
My geography teacher must hear this #OilPrice
— Joshuer | Brand Designer (@joshua_mcjosh) April 20, 2020
After spending 5years in school to study petroleum engineering then oil price dropped below 1$ per barrel
— (@_teazzy_) April 20, 2020
Oil so cheap I should order 2 vessels from Jumia and have them delivered to my doorstep.
— The Rayo Kasali (@RayoKasali) April 20, 2020
— Hemmy (@Emmadidon) April 20, 2020
So I can now buy 200 barrels of oil for the price of one bottle of anointing Oil now
— EK (@Twickta) April 20, 2020
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