Oil price has fallen dramatically in the last 6 months and it’s reflective on the gasoline price at the pump.  A gallon of gas has fallen into the low $2 range in some places!  What’s causing the drop in oil and gas price?  Below charts offer an interesting clue…

 

US_CrudeOil_Production

US_CrudeOilProduction_vs_CrudeOilPrice011415