OPEC has recently lost effectiveness. Back in the days of $100 oil, it was at least partly successful in restraining production from member states.<p>Other global factors have also contributed. Fracking has really had an impact on US production:<p><a href="https:&#x2F;&#x2F;www.eia.gov&#x2F;dnav&#x2F;pet&#x2F;hist&#x2F;LeafHandler.ashx?n=PET&amp;s=MCRFPUS1&amp;f=M" rel="nofollow">https:&#x2F;&#x2F;www.eia.gov&#x2F;dnav&#x2F;pet&#x2F;hist&#x2F;LeafHandler.ashx?n=PET&amp;s=M...</a>