Please explain

The figure below shows the price of crude oil over the 24-month period ending February 2, 2016. Apply the supply and demand analysis from chapter 8 to explain the dramatic decline in crude oil prices over the past 24 months. Be sure to include in your discussion not only the effect of supply and/or demand on price, but also on quantity (which is not pictured below). CLH14 - Crude Oil WTI (NYMEX) CL*1: 29.88 O Vol: 1024026 120.00 110.00 100.00 90.00 80.00 70.00 60.00 50.00 40.00 2000000 29.88 1000000 20.00 2015 2016