Guess that OPEC play to drive the US oil out of production backfired big time on them at least in the short term. OPEC (Saudia Arabia in particular) is now itself hurting financially and itself cannot afford to cut production very much as they are also in a costly war themselves in Yemen that has not been going very well. 

In addition the R-tribe has had its drill, baby, drill diatribe cut short as we certainly are in a new era in the last couple of years of oil production. As a matter of fact, the one yelling the most about it was Sarah Palin and now because of the oil glut, the tax revenue from oil in the state has dropped dramatically and the State reserves are being dipped into big time. Every Alaskan citizen actually used to get a pretty substantial rebate from the State based upon the oil extraction taxes. That may have gone away. I am not sure. 

We currently are awash in oil and as a result gas prices, natural gas prices, and heating oil all reflect that fact. 

http://money.cnn.com/2016/03/01/investing/us-oil-production-near-record-opec/index.html