Why do oil Price keep dropping even with the increase of Global demand of oil.

I have always known that demand and supply are the determinant of the price of a stock. But this has not been the case for oil. According o the EIA, they show that oil demand has increase from 1.15mil barrel per day, to 1.45mil barrel per day yet, the price of oil is still hovering around 42 -52 usd per barrel. Can anyone please explain to me what is happening or is there any other factor that i failed to consider here?

Submitted July 21, 2016 at 08:44AM by vladtitov151 http://ift.tt/2axmJOJ