My brother is a lorry driver and has traveled through Southern Germany and Norther France these last two days. He told me that there are almost no cars on the roads apart from other lorries and some police/Gendarmerie cars, and the few photos he sent me seemed to corroborate his sayings. I suspect in Italy there are even fewer cars now circulating, and Spain is probably the same.

So you've definitely got a huge demand-side crisis, and coupled with whatever Saudi Arabia and Russia are trying to do (fighting between themselves or fighting between themselves in order to bring down the US shale companies, I'm never quite sure) that means that the only way is down.