The oil and gas industry just got a rude awakening. The Organization of the Petroleum Exporting Countries and their allied partners, including Russia (OPEC+), agreed to extend production cuts into 2025. Beginning later this year, however, additional voluntary reductions will end. The price of oil fell on the news. Brent crude now trades at $77 a barrel, while West Texas Intermediate (WTI) goes for$73 a barrel. Both are down from recent highs of $84 a barrel and$80 a barrel, respectively. Fear of waning de ...