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As energy prices soar, supply chain snags threaten U.S. oil output gains

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Reuters

By Liz Hampton DENVER (Reuters) – U.S. oil producers are struggling to find enough crews, vehicles and equipment to take advantage of rising global demand and a seven-year high in crude prices, say executives at oilfield service firms. The problems are preventing the world’s top oil producer and consumer, the United States, from responding to higher prices and could mean it takes longer for global output to match demand recovering from the coronavirus pandemic. That would result in oil firms draining inventories and in turn contribute to higher prices. Higher energy prices are fueling consumer…

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