Oil and Natural Gas Prices Drop to $64.10
The recent drop in oil and natural gas prices to $64.10 per barrel is a welcome relief for consumers and businesses alike. This price drop is the result of a combination of factors, including increased production from the United States, increased global demand, and OPEC's decision to cut production. The United States has seen an increase in oil production due to the development of new technologies such as hydraulic fracturing, or “fracking”. This has allowed the US to become a major player in the global oil market, which has helped