Loading ...My guess? The global central planners ran the Dollar straight up in June 2014 from 80 to 103. That there plus some other things, drove Oil down to $26 in 2016. In general or most of the time, the US Dollar Price changes the supply and or the demand
Low prices cause HIGH demand, (lets buy a Winnebago honey) and shutting down of production at the SAME time. Eventually, the distorted price, gives you a backlash, where the old supply and demand situation temporarily takes hold and rotates the trend.
Dollar higher since 2014:
https://finviz.com/futures_charts.ashx?t=CURRENCIES&p=m1
Oil down since 2014 high: