Is OPEC Behind the Falling Oil Prices?

CNN MONEY

Oil Price are, on a 5 year low. Price of a barrel is under 60 dollar mark; the national average per gallon has fallen from its height in April at 3.77 to 2.53. This price drop has been beneficial to consumers. AAA says that more people will be traveling this holiday season due to the price drop.

Producers though are feeling the squeeze. Their profit margin is shrinking, as price drop it’s getting more expensive to drill for oil. With the energy boom happening in the United States with fracking, some believe that OPEC is trying to stop the growth of the frackers to keep their monopoly on the market. The consumer feels the benefits of the price drop.