I think it's a bit of both.
My understanding is that there's been a huge, unplanned accumulation of unsold petroleum. You hear at least anecdotal stories of ships being hired and then basically sailing around waiting for stocks to deplete. I think there is something happening on the demand side, as well.
Yes, there is a fracking revolution, the shale gas revolution, so there's been a shift in the supply curve to the right. But I think growth in demand due to weaker growth overall in the world economy has played a part as well.