Actually, it's mostly related to a falloff in demand: "After mid-2014, the lion’s share of the decline in oil prices has been caused by negative oil-specific d

Actually, it's mostly related to a falloff in demand: "After mid-2014, the lion’s share of the decline in oil prices has been caused by negative oil-specific demand shocks and, to a lesser extent, by negative aggregate demand shocks. In contrast, the role of the oil supply (understood as the current physical availability of crude oil) has been small." https://research.stlouisfed.org/publications/es/article/10348 https://research.stlouisfed.org/publications/es/article/1034...