Oil prices are sitting well above the $100 mark and show no sign of falling back any time soon, but that doesn’t mean that a wave of new production will come online. U.S. oil producers are struggling with rising costs caused by inflation, a labor shortage, and investor sentiment, all of which impact their ability to boost production. In a recent survey of oil and gas firms by the Dallas Fed, nearly a third of respondents said growth would not be dependent on the price of oil. The U.S. energy sector continues to be an outlier in this bear market, gaining +6.6% last week thanks to riding a rally in crude prices after Yemen’s Houthi rebels claimed a series of attacks on Saudi Aramco oil storage facilities. May Brent crude (CO1:COM) settled +12% at $120.65/bbl while May WTI crude (CL1:COM) closed +10.5% for the week at $113.90/bbl. The attacks […]