Somewhat related even though a short term number.
Rig count in the US went to 689, thats up from 432 a year ago. US oil producers are ramping up production.
It's not slowing down in my county. I sold a pipeline right-of-way along my east fence line last year, and they paid me a premium for it. They said it was to reach two new wells they were putting in on the lease behind me.
Maybe they think republicans will soon be in control of things.