Some older articles...
Nov 9 - OPEC Says To Biden: If You Want More Oil, Pump It Yourself https://www.forbes.com/sites/arielcohen/2021/11/09/opec-says...
> OPEC and its oil-producing partners have rebuffed President Joe Biden’s calls for increased production amidst rising fuel prices, retorting that if the United States believes the world’s economy needs more energy, then it has the capability to increase production itself. The OPEC+ alliance, made up of OPEC members led by Saudi Arabia and non-member top producers guided by Russia, approved an increase in production of 400,000 barrels per day for the month of December.
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Dec 14 - US urges domestic oil producers to raise output https://www.argusmedia.com/en/news/2283072-us-urges-domestic...
> US energy secretary Jennifer Granholm told oil executives today the administration was not "standing in the way" of oil and gas production and supported increased output. She noted that the administration has approved drilling permits on federal land at a faster pace than the prior administration, while pursuing other policies that could bring down retail gasoline prices that in the week ending 13 December were still just 10¢/USG shy of a seven-year high.
> The change in tone comes amid growing frustration from US oil executives, who have bristled at what they see as a lack of support from the administration. Biden in one of his first acts in office blocked the 830,000 b/d Keystone XL pipeline and spent this summer unsuccessfully asking Opec+ to accelerate plans to boost output. US independent producer Pioneer Natural Resources' chief executive Scott Sheffield last week said he has yet to meet another oil executive who has received a call from the administration asking them to increase drilling.
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Mar 2 - More oil supply could stop massive price spikes. But US producers won't fill that gap https://www.cnn.com/2022/03/02/energy/us-oil-production/inde...
> "They can't find people, and can't find equipment," said Robert McNally, president of consulting firm Rapidan Energy Group. "It's not like they're available at a premium price. They're just not available."
As a result, US oil production is just under 12 million barrels a day, 8% lower than in 2019. Experts say the industry is unlikely to get back to that pre-pandemic level this year — and that the last decade's rapid increases in US oil production, typically double-digit percentages year-over-year, are probably a thing of the past.
> Another factor likely making oil companies cautious about investing too much, too fast is 2020's oil bust. The early days of the pandemic drove oil briefly to negative pricing, resulting in a spate of bankruptcies across the industry.