Beautifully written by all means, COVID-19 has been more than influential to halting the activities of people in various countries. In Nigeria for example the educational institutions were the first to suffer terribly and social interaction has been dented a blow however to the betterment of people. However I have a question, since deduction in demand for oil has reduced drastically, do you think the price can skyrocket more than it was before covid-19 as one of the economic challenges we'd have after the virus is over?
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The closure of schools could be considered a social cost as children will be deprived of education as well as social interaction with other children.
Once, the economy starts rolling again, the price will definitely climb. The extent of the climb will depend on supply. It is quite likely oil prices will be higher than before if supply does not increase. It is also possible we will see large price fluctuations as well as while we are reaching a new normal.
Hmmm thanks a whole lot, it seems like a whole lot of economic possibilities are on the horizon. Thanks for taking the time to explain better.