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No. of Recommendations: 7
Oil companies took a beating when people stopped driving to work and there was a gasoline glut. Oil prices even went negative (https://www.marketwatch.com/story/oil-prices-went-negative-a...). Now that demand is higher, the oil companies want to recover their losses through higher prices.

Then there's this:

"Oil and gas prices have skyrocketed this year as energy demand rushes back — but U.S. producers aren’t activating their dormant rigs in droves."
https://www.axios.com/oil-gas-producers-still-holding-back-2...

Or this:

"Our Petroleum Supply Monthly trade data show that the United States exported more crude oil and petroleum products than it imported during the first half of 2021 by 120,000 barrels per day (b/d), or less than 1% of combined crude oil and petroleum product exports and imports. "
https://www.eia.gov/todayinenergy/detail.php?id=49596
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