Mar 24, 2022 - Energy & Environment

Oil executives: Wall Street is holding us back

Data: Federal Reserve Bank of Dallas; Chart: Thomas Oide/Axios

Investor pressure is by far the biggest reason oil companies are restraining U.S. production growth, companies told the Federal Reserve Bank of Dallas.

Driving the news: The chart above comes from the quarterly survey of oil-and-gas firms in the bank's region, which includes Texas, the biggest producing state.

  • "For respondents who said 'other,' the primary reasons were personnel shortages, limited availability of equipment and supply-chain issues," it states.
  • Some also cited uncertainty about future prices and that "a combination of reasons is equally responsible for driving restraint."

The big picture: The pace of U.S. production growth is under the microscope as efforts to isolate Vladimir Putin could lead to a significant drop in Russian barrels on the market.

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