Surging U.S. Oil Production Puts a Lid on Gas Prices.

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    • Subject Terms:
      UNITED States
    • Abstract:
      The article discusses role of increasing oil production in the U.S. as a regulator gas prices in the country. It states that average retail gas prices have held between about two dollars per gallon since the start of 2018, according to data compiled by GasBuddy.com, and mentions that U.S. shale production pumped huge quantities of oil onto world markets and played a large part in decreasing global prices. It notes that OPEC nations bet on prices by not cutting production.