Jamie Dimon, the chief executive of JP Morgan, called on the U.S. oil industry to boost crude production to make up for OPEC+ cuts that could cause a severe shortage in the global oil market. “In my view, America should have been pumping more oil and gas and it should have been supported,” Dimon told CNBC, adding “America needs to play a real leadership role. America is the swing producer, not Saudi Arabia. We should have gotten that right starting in March.” Dimon also noted that the oil and gas supply problem is a long-term one and it is interfering with global energy security and even the energy transition by extending dependence on coal. Meanwhile, the Energy Information Administration reported that the number of drilled but uncompleted wells in the U.S. shale patch in August had fallen to the lowest level since records began in 2013. This is seen […]