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PXD - U.S. Oil Production And Capex Expected To Rise
Pioneer Natural Resources Company
U.S. President Joe Biden has criticized oil majors for not stepping up to help combat record-high gasoline prices at the pump.
Looking at Refinitiv Datastream, we observe U.S. oil production to see if oil companies have been increasing production since the pandemic.
In reality, oil production is a long-cycle business with long lead times which makes it difficult for oil producers to provide a timely response to the current situation.